[69A Part-exempt contracts: excepted premiums]
Finance Act 1994 (1994 c 9) | Legislation

[69A  Part-exempt contracts: excepted premiums]

[(1)     Where—

(a)     an insurer at any time (“the relevant time”) receives a premium under a part-exempt contract, and

(b)     the conditions in subsection (2) are met,

the chargeable amount in relation to the premium is nil.

(2)     The conditions are that—

(a)     the relevant total is £500,000 or less, and

(b)     10% or less of the relevant total is attributable to any non-exempt matter

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