Insurance - Serious Illness/Personal Accident
22/05/1995
Query
Liability where policies are cross-assigned by business partners and company directors.
Decision
Where such policies are cross-assigned by partners/directors, no liability to CGT will arise on a disposal of an interest in the policy or on the occasion of sums becoming payable under the policy.
Capital Gains Tax
Section 535, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:G.11(3)