INCOME TAX – Interest – Life Insurance Policy – Extra payment – Presumed death of missing life assured – Insurer satisfied of death as at particular date – Extra payment in respect of period starting with that date until date of payment of sum assured – Whether extra payment interest – Yes — Whether next of kin ‘entitled’ to the income – No – Whether next of kin taxable under s.59(1) of ICTA 1988 – No .
References: [2012] UKUT 206 (TCC)
Links: Bailii
Jurisdiction: England and Wales
Last Update: 25 October 2020; Ref: scu.462885