The Personal Portfolio Bonds (Amendment of Property Categories in Section 520 of the Income Tax (Trading and Other Income) Act 2005) Regulations, SI 2017/1182, update the list of permitted property in which life insurance policyholders may choose to invest their premiums without triggering a tax charge, with effect from 1 January 2018.
The regulations add three investment vehicles to the list: real estate investment trusts; overseas equivalents of investment trust companies; and authorised contractual schemes. The government consulted on the change and issued a draft of the regulations in 2016. Primary legislation was introduced in Finance (No 2) Act 2017.
The Personal Portfolio Bonds (Amendment of Property Categories in Section 520 of the Income Tax (Trading and Other Income) Act 2005) Regulations, SI 2017/1182, update the list of permitted property in which life insurance policyholders may choose to invest their premiums without triggering a tax charge, with effect from 1 January 2018.
The regulations add three investment vehicles to the list: real estate investment trusts; overseas equivalents of investment trust companies; and authorised contractual schemes. The government consulted on the change and issued a draft of the regulations in 2016. Primary legislation was introduced in Finance (No 2) Act 2017.
