Gains on life policies/life annuities and capital redemption policies

Charge to tax

Credit for basic rate tax

Commentary – Tax Reporter ¶344-420

Division of gain between co-owners of policy/contract

Commentary – Tax Reporter ¶344-460

Individuals

Commentary – Tax Reporter ¶344-400

HMRC Guidance – IPTM3220 ; RDRM33540

Non-resident trustees and foreign institutions

Commentary – Tax Reporter ¶344-400

HMRC Guidance – IPTM3220 ; RDRM33540

Non-residents

Commentary – Tax Reporter ¶344-440 ; Tax Reporter ¶344-450

Personal representatives

Commentary – Tax Reporter ¶344-400

HMRC Guidance – IPTM3220 ; RDRM33540

Persons liable to tax

Commentary – Tax Reporter ¶344-400

HMRC Guidance – IPTM3220 ; RDRM33540

Recovery of tax from trustees

Commentary – Tax Reporter ¶344-520

Settlements with more than one settlor

Commentary – Tax Reporter ¶344-480

Top slicing relief

Commentary – Tax Reporter ¶344-500

HMRC Guidance – IPTM3820

Trustees

Commentary – Tax Reporter ¶344-400

HMRC Guidance – IPTM3220 ; RDRM33540

Chargeable events

Alterations of old life insurance policies

Commentary – Tax Reporter ¶343-500

HMRC Guidance – IPTM7335 ; IPTM7360 ; IPTM7370 ; IPTM8110

Assignments

Commentary – Tax Reporter ¶343-500

HMRC Guidance – IPTM7335 ; IPTM7360 ; IPTM7370 ; IPTM8110

Assignments before 26 June 1982

Commentary – Tax Reporter ¶343-620

Divorce, assignments on

Commentary – Tax Reporter ¶343-500

HMRC Guidance – IPTM7335 ; IPTM7360 ; IPTM7370 ; IPTM8110

Events which are disregarded

Commentary – Tax Reporter ¶343-500

HMRC Guidance – IPTM7335 ; IPTM7360 ; IPTM7370 ; IPTM8110

Generally

Commentary – Tax Reporter ¶343-500

HMRC Guidance – IPTM7335 ; IPTM7360 ; IPTM7370 ; IPTM8110

Guaranteed income bonds, payments under

Commentary – Tax Reporter ¶343-560

Loans to life policy holders

Commentary – Tax Reporter ¶343-540

Part assignments

Commentary – Tax Reporter ¶343-580

Part-surrenders

Commentary – Tax Reporter ¶343-520

Personal portfolio bonds

Commentary – Tax Reporter ¶343-600

Computation of gains

Amounts to be disregarded

Commentary – Tax Reporter ¶344-100

Disability, sums paid in respect of

Commentary – Tax Reporter ¶344-100

Final insurance year, part-surrenders and part-assignments

Commentary – Tax Reporter ¶344-220

General rules

Commentary – Tax Reporter ¶344-020

Generally

Commentary – Tax Reporter ¶344-000

Gifts, assignments by way of

Commentary – Tax Reporter ¶344-100

Insurance years

Commentary – Tax Reporter ¶344-160

Part surrenders and part assignments

Commentary – Tax Reporter ¶344-120 ; Tax Reporter ¶344-220

Periodic calculations

Commentary – Tax Reporter ¶344-140

Personal portfolio bonds, annual calculation

Commentary – Tax Reporter ¶344-240

Rebated or reinvested commission

Commentary – Tax Reporter ¶344-080

HMRC Guidance – IPTM3527

Retained replacement policy premiums

Commentary – Tax Reporter ¶344-100

Total allowable deductions

Commentary – Tax Reporter ¶344-060

Total benefit value

Commentary – Tax Reporter ¶344-040

Transaction-related calculations

Commentary – Tax Reporter ¶344-180

Trivial inducement benefit

Commentary – Tax Reporter ¶344-100

Value of policy/contract

Commentary – Tax Reporter ¶344-040

Value of rights partially surrendered or assigned

Commentary – Tax Reporter ¶344-200

Connected policies and contracts

Commentary – Tax Reporter ¶343-060

Deficiency relief

Calculation

Commentary – Tax Reporter ¶344-740

Entitlement

Commentary – Tax Reporter ¶344-700

Method of giving relief

Commentary – Tax Reporter ¶344-760

When deficiencies arise

Commentary – Tax Reporter ¶344-720

Excluded policies

Commentary – Tax Reporter ¶343-070

Generally

Commentary – Tax Reporter ¶343-050

HMRC Guidance – IPTM2070

Premium limits

Application

Commentary – Tax Reporter ¶343-320

Beneficiaries of policies

Commentary – Tax Reporter ¶343-360

Protected policies

Commentary – Tax Reporter ¶343-340

Pure protection policies

Commentary – Tax Reporter ¶343-380

Qualifying policies

Commentary – Tax Reporter ¶343-300

Qualifying policies

Beneficial ownership rule

Commentary – Tax Reporter ¶343-210

Endowment policies

Commentary – Tax Reporter ¶343-140

Foreign policies

Commentary – Tax Reporter ¶343-110

Generally

Commentary – Tax Reporter ¶343-100

No assignment rule

Commentary – Tax Reporter ¶343-220

Non-payment of premiums

Commentary – Tax Reporter ¶343-190

Options

Commentary – Tax Reporter ¶343-180

Premium limits

Commentary – Tax Reporter ¶343-300–Tax Reporter ¶343-380

Protected policies

Commentary – Tax Reporter ¶343-200

Pure protection policies

Commentary – Tax Reporter ¶343-200

Restricted relief

Commentary – Tax Reporter ¶343-200

Statutory declaration rule

Commentary – Tax Reporter ¶343-230

Substitutions

Commentary – Tax Reporter ¶343-160

Term assurance policies

Commentary – Tax Reporter ¶343-130

Variations

Commentary – Tax Reporter ¶343-170

Whole of life policies

Commentary – Tax Reporter ¶343-120 ; Tax Reporter ¶343-150

Reporting requirements

Chargeable event certificates

Commentary – Tax Reporter ¶344-900

Foreign policies

Commentary – Tax Reporter ¶344-940

Personal portfolio bonds

Commentary – Tax Reporter ¶344-920

Restricted relief qualifying policies

Allowable premiums

Commentary – Tax Reporter ¶343-460

Disregard of exclusions from chargeable events

Commentary – Tax Reporter ¶343-440

Generally

Commentary – Tax Reporter ¶343-200 ; Tax Reporter ¶343-400

Specified events

Commentary – Tax Reporter ¶343-420