{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-473",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-473.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/473",
  "kind": "section",
  "number": "473",
  "heading": "Policies and contracts to which Chapter 9 applies: general",
  "text": "(1) This Chapter applies to—\n(a) policies of life insurance,\n(b) contracts for life annuities, and\n(c) capital redemption policies.\n(2) In this Chapter—\n“capital redemption policy” means a contract made in the course of a capital redemption business, within the meaning given by section 56(3) of FA 2012 , and\n“life annuity” means—\n(a)an annuity that—\n(i)is a purchased life annuity for the purposes of Chapter 7 of this Part (see section 423), and\n(ii)is not specified in section 718 (annuities excluded from the exemption for part of purchased life annuity payments under section 717), or\n(b)...\n(3) Subsection (1) is subject to—\nsection 478 (exclusion of mortgage repayment policies),\nsection 479 (exclusion of pension policies),\nsection 480 (exclusion of excepted group life policies), and\nsection 483 (exclusion of credit union group life policies).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 473(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 127"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 473(2)(b) omitted (with effect in accordance with Sch. 14 para. 18 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 14 para. 17(n)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/473",
    "retrieved_at": "2026-10-29T09:16:32.370392+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."
}