HMRC internal manual

Insurance Policyholder Taxation Manual

Form of the statement

You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.

Insurers may choose to accept telephone or internet statements in place of written statements. This will be at the discretion of each insurer.

Required information

The Life Insurance Qualifying Policies (Statement and Reporting Requirements) Regulations 2012 (SI2013/1820)

The following information is required:

  • Full name,
  • Address including postcode,
  • National insurance number (NINO), if any,
  • Date of birth,
  • Whether the individual is a beneficiary under another qualifying policy issued on or after 6 April 2013 or before that date where a premium limit event has occurred,
  • A statement that the individual is not in breach of the annual premium limit of £3,600, or if the limit has been breached that they are entitled to restricted relief.
  • Whether the event giving rise to the statement relates to a policy issued and maintained solely to repay the principal on an interest only mortgage.
  • The date the statement is made.
  • Confirmation that the statement is correct and complete to the best of the individual’s knowledge and belief.
  • Where the beneficiary is not the sole beneficiary their proportionate share of the rights under the policy.
  • Where policies have been varied the following additional information will be required,
  • The date of the variation.
  • The revised period over which premiums are payable.
  • Where policies have been assigned, and the assignment is an excluded assignment (and a statement is required),
  • The date of the assignment.
  • If the policy was issued on or after 6 April 2013, the name and address of the previous beneficiary.