[552A Tax representatives]
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

[552A  Tax representatives]

[(1)     This section has effect for the purpose of securing that, where it applies to an overseas insurer, another person is the overseas insurer's tax representative.

(2)     In this section “overseas insurer” means a person who is not resident in the United Kingdom who carries on a business which consists of or includes the effecting and carrying out of—

(a)     policies of life insurance;

(b)     contracts for life annuities; or

(c)     capital redemption policies.

(3)     This section applies to an overseas insurer—

(a)     if the condition in subsection (4) below is satisfied on the designated day; or

(b)     where that condition is not satisfied on that day, if it has subsequently become satisfied.

(4)     The condition mentioned in subsection (3) above is that—

(a)     there are in force relevant insurances the obligations under which are obligations of the overseas insurer in question or of an overseas insurer connected with him; and

(b)     the total amount or value of the gross premiums paid under those relevant insurances is £1 million or more.

(5)     In this section “relevant insurance”

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