»Ê¹ÚÌåÓýapp

A qualifying policy is a life insurance policy from a UK company, or a UK branch or permanent establishment of an overseas resident insurer, whose terms meet a complex set of conditions. »Ê¹ÚÌåÓýapp qualifying policy conditions are contained in ICTA88/SCH15. »Ê¹ÚÌåÓýappse include rules about the policy term, regularity and level of premiums paid, and the minimum sum assured. From 6 April 2013, an annual premium limit for premiums payable under relevant policies also applies â€� see IPTM2070. Where a policy does not meet these conditions it is commonly referred to as a ‘non-qualifying policyâ€�, although that is not a statutory term.

Qualifying policies do not normally give rise to chargeable event gains.

»Ê¹ÚÌåÓýapp general rules described in IPTM8015 onwards apply to policies other than tax exempt policies from friendly societies. »Ê¹ÚÌåÓýappse will mainly be endowment policies, although the guidance applies to whole of life policies and term assurance policies, modified in some respects.

»Ê¹ÚÌåÓýapp rules for friendly society tax exempt policies are described in IPTM8400 onwards.