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Chapter II LIFE POLICIES, LIFE ANNUITIES AND CAPITAL REDEMPTION POLICIESC1C2C3C4C5C6C7C8

United Kingdom

  1. 539Introductory.
  2. 539ZAApplication of this Chapter etc. to policies and contracts in which persons other than companies are interested
  3. 539AThe conditions for being an excepted group life policy
  4. 540Life policies: chargeable events.
  5. 541Life policies: computation of gain.
  6. 542Life annuity contracts: chargeable events.
  7. 543Life annuity contracts: computation of gain.
  8. 544Second and subsequent assignment of life policies and contracts.
  9. 545Capital redemption policies.
  10. 546Calculation of certain amounts for purposes of sections 540, 542 and 545.
  11. 546ATreatment of certain assignments etc involving co-ownership
  12. 546BSpecial provision in respect of certain section 546 excesses
  13. 546CCharging the section 546 excess to tax where section 546B applies
  14. 546DModifications of s.546C for final year ending with terminal chargeable event
  15. 547Method of charging gain to tax.
  16. 547AMethod of charging gain to tax: multiple interests.
  17. 548Deemed surrender of certain loans.
  18. 548AEffect of rebated or reinvested commission in certain cases
  19. 548BSection 548A: further definitions
  20. 549Certain deficiencies allowable as deductions.
  21. 550Relief where gain charged at a higher rate.
  22. 551Right of individual to recover tax from trustees.
  23. 551ARight of company to recover tax from trustees.
  24. 552Information: duty of insurers.
  25. 552ZAInformation: supplementary provisions
  26. 552ZBRegulations in relation to qualifying policies
  27. 552ATax representatives.
  28. 552BDuties of overseas insurers’ tax representatives.
  29. 553Non-resident policies and off-shore capital redemption policies.
  30. 553AOverseas life assurance business: life policies.
  31. 553BOverseas life assurance business: capital redemption policies.
  32. 553CPersonal portfolio bonds.
  33. 554Borrowings on life policies to be treated as income in certain cases.

Annotations

Modifications

C1

Pt. 13 Ch. 2 restricted (with effect in accordance with s. 105(1) of the affecting Act) by Finance Act 1996 (c. 8), Sch. 13 para. 3(2) (with Sch. 13 para. 16)

C2

Pt. 13 Ch. 2 applied (with modifications) (6.4.1999) by The Individual Savings Account Regulations 1998 (S.I. 1998/1870), regs. 35(7), 36(3)-(7) (as amended by The Individual Savings Account (Amendment) Regulations 1998 (S.I. 1998/3174), reg. 12)

C3

Pt. 13 Ch. 2 applied (with modifications) (6.4.1999 with effect in accordance with reg. 1 of the affecting S.I.) by The Personal Portfolio Bonds (Tax) Regulations 1999 (S.I. 1999/1029), reg. 6(2)-(8) (as amended (6.4.2002) by The Personal Portfolio Bonds (Tax) (Amendment) Regulations 2002 (S.I. 2002/455), regs. 1, 2)

C4

Pt. 13 Ch. 2 modified (9.4.2003) by Finance Act 2003 (c. 14), s. 171(1)(3), Sch. 34 para. 3

C5

Pt. 13 Ch. 2 modified (9.4.2003) by Finance Act 2003 (c. 14), s. 171(1)(3), Sch. 34 para. 15

C6

Pt. 13 Ch. 2 modified (6.4.2005) by The Child Trust Funds Regulations 2004 (S.I. 2004/1450), regs. 1, 2(1), 38(3)-(8); S.I. 2004/3369, art. 2(1)

C7

Pt. 13 Ch. 2 modified (20.7.2005) by Finance (No. 2) Act 2005 (c. 22), Sch. 7 para. 14(5)-(7)

C8

Pt. 13 Ch. 2 modified (with effect in accordance with Sch. 13 para. 5 of the modifying Act) by Finance Act 2008 (c. 9), Sch. 13 para. 6