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HMRC internal manual

Insurance Policyholder Taxation Manual

HM Revenue & Customs
, see all updates

Exceptions: pre-20 March 1968 policies and contracts

A life insurance policy made before 20 March 1968 is outside the chargeable event gainrules unless it has been varied so as to increase the benefits secured or to extend theterm of the policy - see IPTM7080. All capital redemptionpolicies and life annuity contracts made before 20 March 1968 are also outside thechargeable event gain rules.

Further reference and feedback IPTM1013