146 Travel insurance: higher rate tax
Finance Act 1998 (1998 c 36) | Legislation

Part V Other Taxes

Insurance premium tax

146  Travel insurance: higher rate tax

(1)     Schedule 6A to the Finance Act 1994 (premiums liable to tax at the higher rate) shall be amended as follows.

(2)     For paragraph 4 (travel insurance) there shall be substituted—

“Travel insurance
4

(1)     A premium under a taxable insurance contract falls within this paragraph if it is in respect of the provision of cover against travel risks for a person travelling.

(2)     Where—

(a)     a contract of insurance provides cover against both travel risks and risks other than travel risks,

(b)     the premium attributable to the cover against travel risks does not exceed 10 per cent of the total premium payable under the contract, and

(c)     the contract does not provide cover for a person travelling against travel risks falling within two or more of the paragraphs of sub-paragraph (3) below,

the

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