[52A Certain fees to be treated as premiums under higher rate contracts]
Finance Act 1994 (1994 c 9) | Legislation

[52A  Certain fees to be treated as premiums under higher rate contracts]

[(1)     This section applies where—

(a)     at or about the time when a higher rate contract is effected, and

(b)     in connection with that contract,

a fee in respect of an insurance-related service is charged by a taxable intermediary to a person who is or becomes the insured (or one of the insured) under the contract or to a person who acts for or on behalf of such a person.

(2)     Where this section applies—

(a)     a payment in respect of the fee shall be treated for the purposes of this Part as a premium received under a taxable insurance contract by an insurer, and

(b)     that premium—

(i)     shall be treated for the purposes of this Part as so received at the time when the payment is made,

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