SolvedINTM840100 | Other terminology: Life insurance - appropriate certification
From HM Revenue & Customs · International Manual
Article 2(h) of the agreement states that a beneficial owner of an insurance wrapper is not considered a relevant person for the purposes of the agreement if the insurance company confirms to the paying agent that it will deliver appropriate certification to HMRC.
The underlying policy objective of this paragraph is to exclude assets from the provisions of the agreement that will be reported to HMRC under the usual rules. Therefore, the “appropriate certification” is the usual obligation on overseas insurers to report certain chargeable events.
Please refer, using the links below, to the relevant guidance outlining the technical position (both general and for overseas insurers), as well as operational guidance setting out how these certificates can be made to HMRC:-
| Technical guidance | IPTM7100 & IPTM 9000 | |——————–|————————–|