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HMRC internal manual

Insurance Policyholder Taxation Manual

Foreign policies: effect on qualifying status

A ‘foreign policy’ of life insurance will not usually be a qualifying policy, see IPTM2020 and IPTM3310. The exception is if the policy was issued by a UK branch or permanent establishment of the foreign insurer, such that the premiums are subject to the UK system of taxation. Some well-known companies writing policies in the UK are in fact foreign insurers operating through branches.

A ‘foreign policy’ may also be treated as qualifying if it is transferred to a UK branch of a foreign insurer.

Further reference and feedback IPTM1013