Income and Corporation Taxes Act 1988

4 The following subsections shall be inserted in section 8 after subsection (3)—

“(3A) A notice given to trustees under this section may require a return of the income arising to them to include particulars of the manner in which the income has been applied, including particulars as to the exercise of any discretion and of the persons in whose favour it has been exercised.

In this subsection “trustees” and “income” have the same meaning as in section 686 of the principal Act.

(3B) A notice given to a person under this section may require him to include in the return of his income particulars of premiums paid by him or his wife living with him under policies of life insurance or contracts for deferred annuities and of deductions made from the premiums payable.”