SolvedIPTM7605 | Part surrenders and assignments: periodic calculations: calculation required
From HM Revenue & Customs · Insurance Policyholder Taxation Manual
Where there has been a part surrender or a part assignment of a policy or contract during an ‘insurance year’ - see IPTM3505 - certain calculations need to be performed at the end of that year in order to determine whether an excess event or a part surrender or assignment event has arisen. These are explained at IPTM3560.