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HMRC internal manual

Insurance Policyholder Taxation Manual

HM Revenue & Customs
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Personal portfolio bonds: chargeable event

If the calculation at IPTM3650 shows a gain for an ‘insurance year’, it is treated as arising at the end of the ‘insurance year’ on the occurrence of a chargeable event at that time, called a ‘personal portfolio bond event’.

Further reference and feedback IPTM1013