Slicing up the value chain

 

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Slicing up the value chain

Term for fragmentation used by Krugman (1996).



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A method of assessing the income tax liability on the proceeds of life assurance policies. Although income tax is not normally payable on benefits from qualifying policies, liabilities may exist if the policy is cashed in early, that is, within ten years (or within 75% of the policy term if this happens to be shorter) or if it becomes a paid up policy. The proceeds of non qualifying life policies are liable to higher rate income tax. Assessment of income tax is on the chargeable gain (which is the amount of the policy proceeds less total premiums paid if a chargeable event occurs.




 
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