The Income Tax (Purchased Life Annuities) (Amendment) Regulations 2008

Made: 9th June 2008

Laid before the House of Commons: 10th June 2008

Coming into force: 1st July 2008

The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 658(3) of the Income and Corporation Taxes Act 1988¹ and section 724 of the Income Tax (Trading and Other Income) Act 2005[^f00002]:

Citation and commencement

1

These Regulations may be cited as The Income Tax (Purchased Life Annuities) (Amendment) Regulations 2008 and come into force on 1st July 2008.

Amendment to Principal Regulations

2

• (1) The Income Tax (Purchased Life Annuities) Regulations 2008³ (“the Principal Regulations”) are amended in accordance with this regulation.

• (2) For regulation 19(1)(d) of the Principal Regulations, substitute—

(d) following— (i) the termination of the appointment of the insurer’s tax representative under regulation 14(4); or (ii) the occurrence of one of the events described in regulation 15(1), to nominate another person as a tax representative in accordance with either regulation 14(6) or 15(2), as the case may be;

Signed

Mike Eland — Mike Hanson — Two of the Commissioners for Her Majesty’s Revenue and Customs — 9th June 2008

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

These Regulations make a minor amendment to regulation 19(1)(d) of the Principal Regulations, by clarifying that, under regulation 19(1)(d), the failure of the non-United Kingdom insurer to nominate another tax representative following the termination of the representative’s appointment under regulation 14(4) arises under regulation 14(6), and the failure to nominate another tax representative following the occurrence of one of the events described in regulation 15(1) arises under regulation 15(2).

Footnotes