The Overseas Insurers (Tax Representatives) (Amendment) Regulations 2002
These Regulations amend the Overseas Insurers (Tax Representatives) Regulations 1999 (S.I. 1999/881) (“the principal Regulations”). Schedule 1 to the principal Regulations contains the form of an undertaking which an overseas insurer (within the meaning of section 552A of the Income and Corporation Taxes Act 1988 (c. 1)) (“the Taxes Act”) may give in order to be released (under regulation 12(1)(c) of the principal Regulations) from the requirement that it have a tax representative. These Regulations vary the terms of the undertaking the insurer is required to give in the light of changes made to the information requirements for UK insurers by Part 2 of Schedule 28 to the Finance Act 2001 (c. 9) (“Part 2”).