Clause 81 - Life policies, life annuity contracts and capital redemption policies
Finance Bill
10:45 am
Mr Michael Jack (Fylde, Conservative)
This is a complex area of tax. The tax treatment for life assurance policyholders normally goes on autopilot, which is why the clause and its associated schedule deal with activities that must be undertaken by life assurance companies. Could the Minister say how things will be communicated to taxpayers so that they can know with certainty where they stand if they are either the holders or the recipients of a life assurance policy? Is that dealt with by clause 81?