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HMRC internal manual

Employment Income Manual

Tax treatment of insurance agents: expenses: full- time agents

Subject to paragraph 33 of Statement of Practice SP4/97 (see EIM64605), you should consider the expenses of an employed insurance agent, in so far as they are not borne or reimbursed by the employer, in accordance with EIM31620 onwards (see also EIM64645). But note that no deduction is admissible for bad debts incurred through keeping policies alive. (Agents are forbidden to advance premiums for this purpose beyond a stipulated period during which they are reimbursed by the company or society.)