{
  "url": "https://openlegislation.uk/insurance-premium-tax-taxable-insurance-contracts-order-1996/note",
  "json_url": "https://openlegislation.uk/insurance-premium-tax-taxable-insurance-contracts-order-1996/note.json",
  "legislation": "uksi/1996/2955",
  "legislation_title": "The Insurance Premium Tax (Taxable Insurance Contracts) Order 1996",
  "legislation_url": "https://openlegislation.uk/insurance-premium-tax-taxable-insurance-contracts-order-1996",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order, which comes into force on 1st January 1997, amends paragraph 15(2)(b) of Schedule 7A to the Finance Act 1994 by deleting the words “in the United Kingdom”. The existing provision states that a contract of insurance shall not be taxable for the purposes of insurance premium tax where it relates only to the provision of a “relevant financial facility”(being a loan or guarantee, etc) to an overseas customer in order that he (the overseas customer) may comply with an obligation to receive goods or services from a person carrying on business in the United Kingdom. The amendment extends the existing provision by stating that an insurance contract will not be taxable for the purposes of insurance premium tax where a “relevant financial facility”is provided to an overseas customer in order that he may comply with an obligation to receive goods or services from a person carrying on business anywhere in the world.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/2955/note",
    "retrieved_at": "2026-10-29T12:31:35.218153+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}