HC Deb 07 April 1959 vol 603 cc51-2

I come now to four minor measures for relief from Inland Revenue taxes. The first concerns the treatment of life assurance policies for Estate Duty purposes. As my hon. and learned Friend the Financial Secretary promised last year, we have been engaged in a close review of this matter which arose out of a Court decision in the case in re Hodge. The Finance Bill will include a Clause the broad effect of which will be that gifted policies of insurance will be treated just like gifts of other kinds of property for Estate Duty purposes. This will apply both to life assurance policies and to policies providing annuities. I must ask the Committee to await the Finance Bill for details.