Part 4Savings and investment income
Chapter 9Gains from contracts for life insurance etc.
Supplementary
544Application of Chapter to policies and contracts in which companies interested
1
This section applies where, for the purposes of determining the application of this Chapter in relation to a policy or contract at any time, it is necessary to have regard to its application at another time.
2
It makes no difference to the application of this Chapter at that other time whether liability in respect of a gain arising at that time would have arisen or (as the case may be) would arise because of the application of this Chapter or the corporation tax provisions.
3
In subsection (2) “the corporation tax provisions” means—
a
Chapter 2 of Part 13 of ICTA (which makes provision for corporation tax purposes corresponding to that made by this Chapter),
b
paragraph 20 of Schedule 15 to that Act (replacement of qualifying policies), and
c
section 79 of FA 1997 (payments under certain life insurance policies).