730I Returns on acquisition of foreign policy

Summary

This section outlines the details to be included in a return of income when a person acquires a foreign life assurance policy.

Details

Return of income details

Where in a chargeable period a person acquires a foreign life policy, the person is treated as being a chargeable person (whether or not the person is otherwise so treated) and is obliged to give details of the acquisition in the return of income required to be made in respect of that chargeable period. The details required are —

• the name and address of the person who commenced the policy,
• a description of the terms of the policy, and
• the name and address of the person through whom the policy was acquired.

Relevant Date: Finance Act 2019