This Statutory Instrument has been printed in consequence of a defect in SI 2008/562 and is being issued free of charge to all known recipients of that Statutory Instrument.

2008 No. 1481

Income Tax

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

Made

Laid before the House of Commons

Coming into force

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 20052:

Citation and commencement1

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 Regulations2

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;

Mike ElandMike HansonTwo of the Commissioners for Her Majesty’s Revenue and Customs
EXPLANATORY NOTE

(This note is not part of the Regulations)

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).