A comprehensive Statement of Practice (SP4/97) was issued on 27
November 1997. SP4/97 entirely replaces an earlier statement,
SP5/95, which should no longer be used or quoted. The statement
deals, amongst other things, with the taxation of insurance
commissions received by employees and others. The part of the
Statement of Practice relating to employees’ liabilities is
reproduced at
EIM64605.
The guidance relating to the taxation of insurance agents who
are employees is arranged as follows:
| EIM64605 | Statement of Practice SP4/97 |
| EIM64610 | Trading Income cases |
| EIM64615 | Commission received by agents who are employees |
| EIM64620 | Commission and discounts available to the general public |
| EIM64625 | Invested commission |
| EIM64630 | Discounted premiums or price |
| EIM64635 | Cashbacks received by employees |
| EIM64640 | Expenses: full-time agents |
| EIM64645 | Expenses |
| EIM64650 | Claims for capital allowances on computers |
