# Income Tax (Trading and Other Income) Act 2005, Section 500: Events treated as part surrenders


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—
(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,
(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,
(c) the making of a loan to which section 501 applies, and
(d) the making of a payment to which section 504 applies (payments by insurers under guaranteed income bonds etc.).

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/500 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-500
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.