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In force since 2014-12-01, as the publisher states.
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Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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2014 No. 2856 Insurance Premium Tax The Insurance Premium Tax (Non-taxable Insurance Contracts) Order 2014 Approved by the House of Commons Made 27th October 2014 Laid before the House of Commons 27th October 2014 Coming into force 1st December 2014 The Treasury make the following Order in exercise of the powers conferred by section 71 of the Finance Act 1994.
Propose a changeThis Order may be cited as the Insurance Premium Tax (Non-taxable Insurance Contracts) Order 2014 and comes into force on 1st December 2014.
Propose a changeIn Part 1 (descriptions of contract) of Schedule 7A (insurance premium tax: contracts that are not taxable) to the Finance Act 1994, after paragraph 7 insert— Contracts relating to spacecraft 7A (1) A contract falls within this paragraph if it relates only to the operation of a spacecraft and is a contract of general insurance of a relevant class. (2) For the purposes of this paragraph, a contract of general insurance is of a relevant class if it insures against risks arising from or in relation to— (a) accidents, (b) goods in transit, (c) fire or natural forces, (d) damage to, or loss or malfunction of, property, or (e) general liability to third parties, (and no other risks). (3) For the purposes of this paragraph— (a) the “operation of a spacecraft” means the launch, flight, orbit or re-entry of a spacecraft, and (b) “spacecraft” includes all component parts of its launch vehicle. .
Propose a changeIn Part 2 (interpretation) of that Schedule in paragraph 16A after “7,” insert “7A,”.
Propose a change