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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Unit trusts: endowment life assurance

Life assurance companies offer life policies in which the value of the policy benefits is linked to the value of units in a unit trust, see CG69080. Payments will be made to policyholders when the policy matures and if they are allowed to make withdrawals during the term of the policy. Instead of paying cash the life assurance company may make these payments by transferring units in a unit trust. The policyholder will acquire these units at market value, see CG69044.