Part III Insurance Premium Tax

Miscellaneous

66BF1Section 66A: exceptions and apportionments

1

Section 66A(3) and (4) do not apply in relation to a premium if the risk to which that premium relates belongs to a class of risk as regards which the normal practice is for a premium to be received by or on behalf of the insurer before the date when cover begins.

2

Section 66A(5) and (6) do not apply in relation to a premium if the risk to which that premium relates belongs to a class of risk as regards which the normal practice is for cover to be provided for a period of more than twelve months.

3

If a contract relates to more than one risk, then in the application of section 66A(3) and (4) or 66A(5) and (6)—

a

the reference in section 66A(3)(b) or (5)(b) to the risk is to be read as a reference to any given risk,

b

so much of the premium as is attributable to any given risk is to be taken for the purposes of section 66A(3) and (4) or 66A(5) and (6) to be a separate premium relating to that risk,

c

those provisions then apply separately in the case of each given risk and the separate premium relating to it, and

d

any further attribution required by section 66A(5) and (6) is to be made accordingly,

and subsections (1) and (2) and section 66A(9) apply accordingly.

4

Any attribution under this section is to be made on such basis as is just and reasonable.