Related Commentary  Related HMRC Manuals

51(1)  Tax shall be charged–

(a)at the higher rate, in the case of a premium which is liable to tax at that rate; and

(b)at the standard rate, in any other case.

51(2)  For the purposes of this Part–

(a)the higher rate is 20 per cent; and

(b)the standard rate is 12 per cent.

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