Revenue eBrief No. 038/26
25 February 2026
CAT Manual Part 5 - Section 41: When interest in assurance policy becomes interest in possession
Section 41 of the Capital Acquisitions Tax Consolidation Act 2003 sets out special rules for determining the point in time at which an interest in a life assurance policy, including a contract for a deferred annuity, is deemed to become an interest in possession for the purposes of Capital Acquisitions Tax.
The section was amended by section 88 of Finance Act 2025 to include a new subsection (1A), which applies from 1 January 2026.
Tax and Duty Manual Section 41 - When interest in assurance policy becomes interest in possession provides guidance on the operation of section 41 as it applies from 1 January 2026.