Regulation 16 Amendment of regulation 35 (administration of tax in relation to accounts – supplementary)

Amend regulation 35^f1 as follows.

In paragraph (5)(a) for “sections 95 and 96” substitute “section 95”.

In paragraph (6)(a) for “Chapter 2 of Part 13 of the Taxes Act” substitute “Chapter 9 of Part 4 of ITTOIA 2005”.

For paragraph (7) substitute—

“(7)

A termination of a policy of insurance pursuant to regulation 9(3)(b)(ii) shall be treated as the surrender of all rights under the policy for the purposes of section 484(1)(a)(i) of ITTOIA 2005.”.