Income Tax (Trading and Other Income) Act 2005 (c. 5)

Valid from 06/04/2005

Part 4 U.K. Savings and investment income

Chapter 9 U.K. Gains from contracts for life insurance etc.

When chargeable events occur: general U.K.

487 Disregard of certain assignments U.K.

For the purposes of this Chapter, an assignment of rights under a policy or contract or a share in such rights is ignored if it is—

(a) by way of security for a debt,

(b) on the discharge of a debt secured by the rights or share, or

(c) between spouses living together.