{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-500",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-500.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/500",
  "kind": "section",
  "number": "500",
  "heading": "Events treated as part surrenders",
  "text": "The following events are treated for the purposes of this Chapter as a surrender of a part of the rights under the policy or contract in question—\n(a) the falling due of a sum payable as a result of a right under a policy or contract to participate in profits where further rights remain under it,\n(b) in the case of a contract for a life annuity which provides for a capital sum to be taken as an alternative in part to the annuity payments, taking the capital sum,\n(c) the making of a loan to which section 501 applies, and\n(d) the making of a payment to which section 504 applies (payments by insurers under guaranteed income bonds etc.).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/500",
    "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."
}