The Life Insurance Qualifying Policies (Statement and Reporting Requirements) Regulations 2013
Changes to the Life Insurance Qualifying Policy regime were introduced by Finance Act 2013 which inserted section 552ZB and paragraph B3 to Schedule 15 of the Income and Corporation Taxes Act 1988 (“the Taxes Act”). The provisions require beneficiaries of qualifying policies to make statements and insurers to report information to HMRC in respect of qualifying policies.