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HMRC internal manual

Insurance Policyholder Taxation Manual

HM Revenue & Customs
, see all updates

Exceptions: group life policies: credit union loan protection policies

There is also a specific exclusion from the chargeable event rules for group lifepolicies with the sole object of providing a sum on the death or disability of anindividual to meet the outstanding amount of a loan which that individual has taken from aregistered credit union.

Further reference and feedback IPTM1013