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IPTM3300 | Policies and contracts charged: general

From HM Revenue & Customs · Insurance Policyholder Taxation Manual

The policies and contracts that are potentially subject to the chargeable event regime are:

  • life insurance policies (may also be referred to as life assurance policies)

  • life annuity contracts

  • capital redemption policies

made, or varied so as to extend the term or increase the benefits, on or after 20 March 1968.

Life annuity means a purchased life annuity within the partial exemption scheme described at IPTM4000 onwards - see IPTM4220.

Certain policies and contracts are not chargeable, see IPTM1540.