If you report benefits, note that the guidance for reporting insurance losses has been updated

We have published an updated version of the detailed guidance titled Benefits: reporting data to the Incomes Register. 

The previous version of the guidance had an error in Section 4.7 ‘Reporting insurance losses to the Incomes Register’. The error was related to reporting insurance losses in situations where the loss is not confirmed.

The erroneous guidance has now been corrected

The correct guidance is that insurance losses are not reported to the Incomes Register if the beneficiary is not the policyholder.

Insurance losses can only be confirmed for policyholders. If the policyholder will not personally receive the payments under the policy and they are instead paid to someone else, losses cannot be confirmed because in this case, the policy is not considered to have been taken out for the purpose of earning personal income.

In future, report data according to the updated guidance; you do not need to correct already submitted erroneous reports

Reports submitted to the Incomes Register according to the previous guidance do not need to be corrected.

In future, data must be reported according to the updated guidance for reporting benefits that became valid on 2 May 2024.  

See all our detailed guidance:  

Incomes Register detailed guidance