IPTM4500 - Purchased life annuities: non-UK insurers: release from requirement to appoint a tax representative: declaration by insurer that it will conduct life and annuity business in accordance with UK law
As explained in IPTM4480 there is no specific form of words that a non-UK insurer must use when making the declaration. SI 2008/562/Regulation 17 says that the non-UK insurer must make a declaration that it will conduct life annuity business in accordance with the law applicable in the United Kingdom and this includes »Ê¹ÚÌåÓýapp Income Tax (Purchased Life Annuities) Regulations 2008 (SI 2008/562).
A non-UK insurer may however want to use the following form of words when making the declaration.
»Ê¹ÚÌåÓýapp declaration given below is made in accordance with regulation 17 of »Ê¹ÚÌåÓýapp Income Tax (Purchased Life Annuities) Regulations 2008 (SI 2008/562) as amended by SI 2008/1481 and SI 2012/2902.
All references below to ‘regulationsâ€� are references to »Ê¹ÚÌåÓýapp Income Tax (Purchased Life Annuities) Regulations 2008 (SI 2008/562) as amended by SI 2008/1481 and SI 2012/2902.
In respect of all purchased life annuities and in accordance with regulation 17 of the regulations …………………………………………………………………………………………�.. (‘the company�) declares to the Commissioners for HM Revenue and Customs that it will conduct life annuity business in accordance with the law applicable in the United Kingdom.
»Ê¹ÚÌåÓýapp company further declares that it will apply the partial exemption scheme provided by Chapter 7 of Part 6 of the Income Tax (Trading and Other Income) Act 2005 and the procedures set out in regulations 4 to 8 inclusive.
»Ê¹ÚÌåÓýapp company acknowledges that the agreement of the Commissioners for HM Revenue and Customs is subject to their right in accordance with regulation 17(4) of the regulations to withdraw from the agreement and require the company to nominate a tax representative or make other arrangements with the Commissioners.
On the basis of this declaration, the company requests that the Commissioners for HM Revenue and Customs release them from the obligation to have a tax representative.
Signed on behalf of the company this ……………� day of …………………………� 20…�
By the proper officer of the Company as defined for the purposes of section 108 Taxes Management Act 1970 by subsection (3) of that section:
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Name of Officer (Printed) …………………………………………………………………………………………�