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HMRC internal manual

Insurance Policyholder Taxation Manual

Types of chargeable events

IPTM7100 onwards describes the statutory requirements ofinsurers to issue chargeable event certificates to the policyholder and HMRC. In order tocomply with these requirements, insurers need to be aware of when chargeable events occuron a life insurance policy, capital redemption policy or life annuity contract.

Main categories of chargeable events

Chargeable events are listed at IPTM3400, with exceptions atIPTM3410. There is additional guidance aimed at insurers on

  • excess events at IPTM7615 onwards
  • part surrender and assignment events at IPTM7625 onwards
  • personal portfolio bond events at IPTM7700 onwards.
Further reference and feedback IPTM1013