CG69100 - Insurance agents: general
Agents who are employees of certain insurance companies and friendly societies may have a financial interest in their agencies. Such an interest is known as a book' or book interest바카라 사이트™. To take over existing business, a new agent pays a capital sum to an existing agent for his `book바카라 사이트™, either directly or through the company concerned. In addition, there may be frequent capital payments between agents on transfers of business, for example when policy holders move from one area to another.
The content of an agent바카라 사이트™s book' is continually changing because of policies maturing, new policies being taken out and transfers between agents. The book바카라 사이트™ is nevertheless a single chargeable asset in the nature of goodwill. Reliefs are available for replacement of business assets, see CG60250+. The gain on disposal may qualify for Business Asset Disposal Relief, see CG63950+.
This does not apply to all agents of insurance companies which operate a `book바카라 사이트™ system: some are engaged on pure commission terms and have no personal 바카라 사이트˜book interest바카라 사이트™.