Appointment by the Board of an overseas insurer’s tax representativeU.K.
10.—(1) In circumstances where the overseas insurer has failed–
(a)to nominate a person to be his tax representative in accordance with subsection (6) of section 552A; or
(b)following the refusal of the Board to approve a person nominated by him, to nominate another person to be his tax representative in accordance with paragraph (6) of regulation 5; or
(c)following the withdrawal by the Board of their approval of a person nominated, to nominate another person to be his tax representative in accordance with paragraph (2)(b) of regulation 6; or
(d)following the notification by a person nominated under paragraph (1) of regulation 8 that he no longer wishes to be the overseas insurer’s tax representative or on the occurrence of one of the events described in paragraph (1) of regulation 9, to nominate another person in accordance with the paragraph in question; or
(e)following the giving of a notice by the Board in accordance with paragraph (3) of regulation 11, to nominate a person to be his tax representative in accordance with paragraph (4) of that regulation; or
(f)following–
(i)the refusal of the Board to agree to release him from the requirement that there be a tax representative, or
(ii)the disclosure to the Board of information with respect to relevant insurances ceasing to be a criminal offence under the law of the EEA [F1state] in which he is resident [F2or, if he is resident in Gibraltar, under the law of Gibraltar], or
(iii)notification by him to the Board that the total amount or value of gross premiums paid under relevant insurances is £1 million or more, or
(iv)the giving of a notice by the Board of their intention to withdraw from their agreement to release him from the requirement that there be a tax representative,
to nominate a person to be his tax representative in accordance with paragraph (9) of regulation 12; or
(g)to notify the Board that the total amount or value of gross premiums paid under relevant insurances is £1 million or more; or
(h)following the termination of the appointment of a person appointed under this paragraph, to nominate another person in accordance with paragraph (4) of this regulation; the Board may appoint a person who satisfies the description in paragraph (2) to be the overseas insurer’s tax representative.
(2) A person appointed by the Board to be the tax representative of an overseas insurer must be a person who has a significant business or economic connection with the overseas insurer and may in particular (but without prejudice to the generality of the preceding words) be–
(a)a company which is connected with the overseas insurer within the meaning of section 839 F3... (connected persons); or
(b)the branch or agency in the United Kingdom of any such company.
(3) The Board must give notice of their decision to the person appointed under this regulation and to the overseas insurer and, subject to paragraph (6) of regulation 13, the date of the appointment is the date of the notice.
(4) The Board may at any time terminate the appointment of the person appointed by them as the tax representative of an overseas insurer by giving notice to the person appointed and to the overseas insurer and in that event the overseas insurer must nominate another person to be his tax representative within the period of three months after the date of that notice.
(5) The overseas insurer may at any time nominate a person to be his tax representative in place of the person appointed by the Board and, if the Board approve the nomination of that person, at the same time as the Board give notice of their decision approving the nomination they must give notice to the person appointed by them that his appointment ceased on the date of the notice.
(6) Where the overseas insurer nominates another person in accordance with paragraph (4) or (5), that nomination must contain the information required by regulation 4 and the Board must give their decision on that nomination in accordance with regulation 5.
Textual Amendments
F1Word in reg. 10(1)(f)(ii) substituted (27.10.2008) by The Overseas Insurers (Tax Representatives) (Amendment) Regulations 2008 (S.I. 2008/2626), regs. 1, 5
F2Words in reg. 10(1)(f)(ii) inserted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 25(2) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 10(2)(a) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Insurers (Tax Representatives) (Amendment) Regulations 2002 (S.I. 2002/443), regs. 1, 5
Commencement Information
I1Reg. 10 in force at 6.4.1999, see reg. 1