EIM64600 - Tax treatment of insurance agents: general: arrangement of guidance
A comprehensive Statement of Practice (SP4/97) was issued on 27 November 1997. SP4/97 entirely replaces an earlier statement, SP5/95, which should no longer be used or quoted. The statement deals, amongst other things, with the taxation of insurance commissions received by employees and others. The part of the Statement of Practice relating to employees’ liabilities is reproduced at EIM64605.
The guidance relating to the taxation of insurance agents who are employees is arranged asfollows:
| EIM64605 | Statement of Practice SP4/97 |
|---|---|
| EIM64610 | Trading Income cases |
| EIM64615 | Commission received by agents who are employees |
| EIM64620 | Commission and discounts available to the general public |
| EIM64625 | Invested commission |
| EIM64630 | Discounted premiums or price |
| EIM64635 | Cashbacks received by employees |
| EIM64640 | Expenses: full-time agents |
| EIM64645 | Expenses |
| EIM64650 | Claims for capital allowances on computers |