Part II

Insurance Premium Tax

Miscellaneous

Amounts charged by other intermediaries.
28
1
In section 72 of the Finance Act 1994 (interpretation: premium) after subsection (1) there shall be inserted—
1A
Where an amount is charged to the insured by any person in connection with a taxable insurance contract, any payment in respect of that amount is to be regarded as a payment received under that contract by the insurer unless—
a
the payment is chargeable to tax at the higher rate by virtue of section 52A above; or
b
the amount is charged under a separate contract and is identified in writing to the insured as a separate amount so charged.
2
The amendment made by subsection (1) above has effect in relation to payments received in respect of amounts charged on or after 1st April 1997.
1994 c. 9.