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Income and Corporation Taxes Act 1988
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- UK Public General Acts
- 1988 c. 1
- PART XIII
- CHAPTER II
- Section 552B
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Income and Corporation Taxes Act 1988, Section 552B is up to date with all changes known to be in force on or before 19 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
- Act Tax Acts: power to modify conferred by 2004 c. 25 s. 18
- Act applied (with modifications) by S.I. 2010/875 reg. 16 Sch. 2 (This amendment not applied to legislation.gov.uk. S.I. 2010/875 was revoked (27.8.2010) by SI 2010/1906, reg. 2 without having come into force)
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 109A(4B) inserted by 2005 c. 7 Sch. 4 para. 6(3) (This amendment not applied to legislation.gov.uk. The amending provision (2005 c. 7, Sch. 4 para. 6) repealed retrospectively by 2005 c. 22, Sch. 6 para. 4(1)(6))
- Sch. 19AB para. 5(5)(a)(b) words substituted by S.I. 2001/3629 art. 52(2)(n) (This amendment not applied to legislation.gov.uk. The words to be substituted do not occur in Sch. 19AB para. 5)
[F1552B Duties of overseas insurers’ tax representatives.U.K.
(1)It shall be the duty of an overseas insurer’s tax representative to secure (where appropriate by acting on the overseas insurer’s behalf) that the relevant duties are discharged by or on behalf of the overseas insurer.
[F2(2)For the purposes of this section “the relevant duties” are—
(a)the duties imposed by section 552,
(b)the duties imposed by section 552ZA(2), (4) or (5), F3. . .
(c)any duties imposed by regulations made under subsection (6) of section 552ZA by virtue of subsection (7) of that section, [F4and
(d)any duties imposed by regulations under section 552ZB,]
so far as relating to relevant insurances under which the overseas insurer in question has any obligations.]
(3)An overseas insurer’s tax representative shall be personally liable—
(a)in respect of any failure to secure the discharge of the relevant duties, and
(b)in respect of anything done for purposes connected with acting on the overseas insurer’s behalf,
as if the relevant duties were imposed jointly and severally on the tax representative and the overseas insurer.
(4)In the application of this section in relation to any particular tax representative, it is immaterial whether any particular relevant duty arose before or after his appointment.
(5)This section has effect in relation to relevant duties relating to chargeable events happening on or after the day by which section 552A(6) requires the nomination of the overseas insurer’s first tax representative to be made.
[F5(5A)In subsection (5) “chargeable event” has the same meaning as in section 552 (see subsection (10) of that section).]
(6)Expressions used in this section and in section 552A have the same meaning in this section as they have in that section.]
Textual Amendments
F1Ss. 552A, 552B inserted (31.7.1998) by Finance Act 1998 (c. 36), s. 87
F2S. 552B(2) substituted (with effect in accordance with s. 83(3) of the amending Act) by Finance Act 2001 (c. 9), Sch. 28 para. 19
F3Word in s. 552B(2) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 9 para. 11(a)
F4S. 552B(2)(d) and preceding word inserted (17.7.2013) by Finance Act 2013 (c. 29), Sch. 9 para. 11(b)
F5S. 552B(5A) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 225 (with Sch. 2)
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