- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)In Chapter 2 of Part 13 of the Taxes Act 1988 (life policies, life annuities and capital redemption policies), section 549 (certain deficiencies allowable as deductions) is amended as follows.
(2)In subsection (1) for the words from “the total amount” to the end substitute “the allowable amount”.
(3)After that subsection insert—
“(1A)The allowable amount is the total of any amounts that—
(a)were treated as a gain by virtue of section 541(1)(d), 543(1)(c) or 546C(7) on the previous happenings of chargeable events, and
(b)formed part of that individual’s total income for a previous year of assessment.”.
(4)This section applies in relation to a deficiency occurring in connection with a policy of life insurance if—
(a)it is issued in respect of an insurance made on or after 3rd March 2004, or
(b)it is issued in respect of an insurance made before that date but on or after that date—
(i)it is varied so as to increase the benefits secured (any exercise of rights conferred by the policy being regarded for this purpose as a variation),
(ii)there is an assignment (whether or not for money or money’s worth) of the rights, or a share of the rights, conferred by the policy, or
(iii)all or part of the rights conferred by the policy become held as security for a debt.
(5)This section applies in relation to a deficiency occurring in connection with a contract for a life annuity if—
(a)it is entered into on or after 3rd March 2004, or
(b)it is entered into before that date but on or after that date—
(i)it is varied so as to increase the benefits secured (any exercise of rights conferred by the contract being regarded for this purpose as a variation),
(ii)there is an assignment (whether or not for money or money’s worth) of the rights, or a share of the rights, conferred by the contract, or
(iii)all or part of the rights conferred by the contract become held as security for a debt.
(6)This section applies in relation to a deficiency occurring in connection with a capital redemption policy if—
(a)it is effected on or after 3rd March 2004, or
(b)it is effected before that date but on or after that date—
(i)it is varied so as to increase the benefits secured (any exercise of rights conferred by the policy being regarded for this purpose as a variation),
(ii)there is an assignment (whether or not for money or money’s worth) of the rights, or a share of the rights, conferred by the policy, or
(iii)all or part of the rights conferred by the policy become held as security for a debt.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Ddeddf Gyfan heb Atodlenni you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys