SCHEDULES
F2SCHEDULE 7A INSURANCE PREMIUM TAX: CONTRACTS THAT ARE NOT TAXABLE
PART I DESCRIPTIONS OF CONTRACT
Contracts relating to risks outside the United Kingdom
8
1
A contract falls within this paragraph if it relates only to a risk which is situated outside the United Kingdom.
F12
F43
This is the Table referred to in sub-paragraph (2)—
Where— | The risk is situated in— |
---|---|
the contract relates to a building, to some or all of the contents of a building or to a building and some or all of its contents | the country or territory in which the building is situated |
the contract relates to vehicles of any type | the country or territory in which the vehicle is registered |
the contract covers travel or holiday risks and has a duration of four months or less | the country or territory in which the policyholder entered into the contract |
the contract does not fall within any of the previous entries and the policyholder is an individual | the country or territory in which the policyholder is habitually resident on the date on which the contract is entered into |
the contract does not fall within any of the previous entries | the country or territory in which the establishment of the policyholder to which the contract relates is situated on the date on which the contract is entered into. |
4
For the purposes of the last entry in the Table, “establishment”, in relation to a policyholder (“P”), means—
a
P’s head office or any of P’s agencies or branches, or
b
any permanent presence of P (which need not take the form of a branch or agency and, for example, may consist of an office managed by P’s staff or by a person who is independent of P but who has permanent authority to act for P as if the person were an agency).
Sch. 7A inserted (1.10.1994) by S.I. 1994/1698, art. 5