# Income Tax (Trading and Other Income) Act 2005, Section 525: Chargeable events where annual calculations show gains


(1) This section applies if the calculation in section 522 shows that a gain has arisen in relation to an insurance year.
(2) The gain is treated as arising at the end of the insurance year on the occurrence of a chargeable event at that time.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/525 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-525
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.