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HMRC internal manual

Inheritance Tax Manual

Life Policies: Pure Endowment policy linked with a Term Assurance policy: PETA schemes

These crop up rarely now since they only relate to the legislation that was in force before 18 March 1986.

If you come across a PETA scheme, you should ask the taxpayer or agent for full copies of

  • the Pure Endowment and Term Assurance policies
  • the trust documents
  • any other relevant documents

and then refer these to the Actuarial Team, who will advise on any queries and/or claims to raise.