HMRC internal manual

Insurance Policyholder Taxation Manual

IPTM2093 - Reporting requirements for insurers

Where a statement has been provided by a beneficiary under a policy (see IPTM2071) the insurer must submit the following to HMRC:

  • the information given in a statement in respect of qualifying policies issued, varied, or assigned on or after 6 April 2013 (unless the policy was issued before 6 April 2013, in which case there are no reporting requirements),
  • the information given in an application for a policy where the policy is issued on or after 6 April 2013 and the information did not change between application and issue,
  • for the above and for policies which ceased, terminated, matured or where premiums have reduced the insurer will also need to provide the date the policy was issued, the policy identification reference and the premiums payable under the policy (this will be the premiums payable after the event).

Policies issued before 6 April 2013

There are no reporting requirements for any qualifying policies issued before 6 April 2013.

However, a non-qualifying chargeable event certificate will be required on a subsequent chargeable event if the policy issued in the transitional period is:

  • a non-qualifying policy, or
  • a RRQP

Statements will be required in a number of situations (see IPTM2090). However, a report will only be required in respect of qualifying policies issued on or after 6 April 2013. Insurers will need to note their systems if statements show that a pre-6 April 2013 policy has become non-qualifying or RRQP but such policies are not required to be included in the report to HMRC.