This course is designed as a basic grounding in Life Chargeable Events and is illustrated with numerous examples. It covers the fundamentals of the taxation of qualifying and non-qualifying products, Tax Exempt products and will be of interest to Life Companies, Friendly Societies, IFAs etc.
It does not cover OLAB, Fiscal Representation and new non-resident policies in depth.
Complex taxation issues are covered on the Life Products Taxation Course - details on this on request.
- Junior tax assistants
- Life Marketing staff
- Junior Actuarial and underwriting staff
- Sales representatives and brokers
- Client Service Representatives in Life Assurance
- Life Assurance Call Centre Advisers
-Basic Outline of Tax system, Capital VS. Income, IHT.
-The Policy Process and Underwriting Contract of Life Policies and Taxation.
-Qualifying and Non-Qualifying Products.
-The Enduring Effects of LAPR.
-Calculation of a Basic Chargeable Event.
-Qualifying Products becoming Non-Qualifying.
-Regular Premium Policies Calculation of Events.
-Substitutions including examples.
-Variations inclulding examples.
-Enhancements and the Qualifying Rules.
-Friendly Society Policy Enhancements (increase of the limit).
-Cancellations, Paid-Up Policies and Early Surrenders.
-Assignments and Joint Policies.
-Tax Effects of putting a Life Policy into Trust for IHT Planning
This course is ideally suited for adaptation for in-house training and use by offshore companies and friendly societies.