TSEM4520 - Settlements legislation: certificate under ITTOIA/S538
The rights under a life policy can be held in trust. Gains arising on the policy may be attributed to the settlor. This can create additional tax liability on the settlor. The settlor can recover this tax from the trustees. To do so the settlor may require a certificate confirming the amount of tax recoverable.
Internal users should refer any requests for certification to BAI Financial Services Team (Insurance).