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HMRC internal manual

Insurance Policyholder Taxation Manual

From
HM Revenue & Customs
Updated
, see all updates

About this manual

What IPTM is forThis manual draws together taxation charges and reliefs relating to individuals, companies and trustees who have entered into contracts with insurance companies.

Insurers’ own tax treatment, and matters relating to Lloyd’s underwriters, are dealt with in the General Insurance Manual (GIM), Life Assurance Manual (LAM) and Lloyd’s Manual (LLM). These manuals are available in the HMRC internet library.

IPTM is written for HMRC staff, customers and professional advisers. It will also be of interest to insurers as regards their obligations to issue chargeable event certificates and to assist in judging whether policies meet qualifying conditions. Material primarily aimed at insurers is atIPTM7000 onwards.

Inevitably there is overlap between the insurer and more general material, but this has been minimised where possible. The insurer material is written from a more practical rather than comprehensive standpoint.

Customers filing tax returns may find that their information needs are adequately dealt with by the notes accompanying the return and related Help Sheets HS320 and HS321.They are available on the website.

Further reference and feedback IPTM1013