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HMRC internal manual

Insurance Policyholder Taxation Manual

Overseas insurers: reporting duties of a tax representative: chargeable event certificates for HMRC

Circumstances in which a tax representative must provide information about chargeable events to HMRC

A tax representative is also required to provide information to HMRC

  • on chargeable events other than whole assignments if the gain, aggregated with any connected gains - see IPTM7150, exceeds half the ’basic rate limit’ for the tax year in which the gain arises, and
  • on all whole assignments for money or money’s worth, whatever thesize of the gain.


The basic rate limit is defined in ITA07/S10 (2) (previously ICTA88/S1 (3)). It is the amount of taxable income up to which a taxpayer is chargeable at the basic rate. For the tax year ended 5 April 2011, half the basic rate limit is £18,700.

Even where the gain is below the basic rate limit, an officer of HMRC may require a tax representative to supply a copy of the chargeable event certificate that the tax representative was required to send to the policyholder - see IPTM7155.

Format of chargeable event certificates for HMRC

In contrast to the position for UK insurers, there is no prescribed format for the chargeable event certificates that must be sent to HMRC and any convenient format may be used so long as all the necessary information is reported. Certificates usually comprise a single sheet of paper headed ‘Chargeable event certificate’.

Information to be provided on chargeable event certificates

The information about a chargeable event and gain that must be reported on a certificate for HMRC is the same as the information that must be reported on a certificate for the policyholder - see IPTM7120 to IPTM7135 and IPTM9100.

The certificate should also show the

  • names and addresses of all the ‘appropriate policyholders’, see IPTM7110, and IPTM7175 and IPTM7180 for guidance where there is a power of attorney, policies held on trust or a difficulty in establishing a current private address for a policyholder
  • unique identifying reference of the policy - normally the policy number, and
  • name and address of the overseas insurer on whose behalf the certificate is being provided by the tax representative.


Time limit and address for sending certificates to HMRC

The time limit for a tax representative to send a certificate to HMRC is the same as for a UK insurer. There is guidance on the time limits in IPTM7195 and IPTM7200.

Tax representatives should send chargeable event certificates to HMRC at the contact address given in IPTM9010. The certificates will be distributed and may be used to check the tax return submitted by the policyholder.

Further reference and feedback IPTM1013