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HMRC internal manual

International Exchange of Information Manual

Financial Accounts: Annuities

Financial Accounts: Annuities

An Annuity Contract is a contract under which the issuer agrees to make payments for a period of time, determined in whole or in part by reference to the life expectancy of one or more individuals. For UK purposes this covers all annuities as outlined in the Insurance Policyholder Taxation Manual (IPTM).

The following are not considered to be reportable Annuity Contracts for automatic exchange of information purposes:

  • Pension annuities – these are excluded products, see [see IEIM401720],


  • Immediate needs annuities as described at IPTM6205 – these are excluded products, see [see IEIM401720]


  • Periodic payment orders.


Reinsurance of Annuity Contracts between insurance companies are not annuities.