HC Deb 25 February 1997 vol 291 c139W
Mr. Harry Greenway

To ask the Chancellor of the Exchequer what plans he has to change the rules on the taxation of single premium investment insurance bonds; if he will estimate the yield of such a tax; and if he will make a statement. [17531]

Mr. Jack

The Government have no present plans to change the rules on the taxation of single premium investment insurance bonds. In November 1996 the Inland Revenue published a consultation paper containing a package of proposals, including draft clauses, for reforming the way a policy holder's profits from all kinds of long-term life insurances are taxed. No decisions will be taken until after the response to this public consultation has been fully considered and evaluated.

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