The Insurance Premium Tax Regulations 1994

Death, bankruptcy or incapacity of registrable persons

11.—(1) If a registrable person dies or becomes bankrupt or incapacitated, the Commissioners may, from the date on which he died or became bankrupt or incapacitated, as the case may be, treat as a registrable person any person carrying on any taxable business of his; and any legislation relating to insurance premium tax shall apply to any person so treated as though he were a registered person.

(2) Any person carrying on such business as aforesaid shall, within thirty days of commencing to do so, inform the Commissioners in writing of that fact and of the date of the death or bankruptcy or of the nature of the incapacity and the date on which it began.

(3) Where the Commissioners have treated a person carrying on a business as a registrable person under paragraph (1) above, they shall cease so to treat him if—

(a) the registration of the registrable person is cancelled, whether or not any other person is registered with the registration number previously allocated to him;

(b) the bankruptcy is discharged or the incapacity ceases; or

(c) he ceases carrying on the business of the registrable person.

(4) In relation to a registrable person which is a company, the references in this regulation to the registrable person becoming incapacitated shall be construed as references to its going into liquidation or receivership or to an administration order being made in relation to it; and references to the incapacity ceasing shall be construed accordingly.