Related Commentary  Related HMRC Manuals

55(1)  Regulations may provide that where an insurer or taxable intermediary has paid tax and all or part of the premium or taxable intermediary’s fee (as the case may be) is repaid, the insurer or taxable intermediary shall be entitled to credit of such an amount as is found in accordance with prescribed rules.

55(2)  Regulations may provide that where–

(a)by virtue of regulations made under section 68 below tax is charged in relation to a premium which is shown in the accounts of an insurer as due to him,

(b)that tax is paid, and

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