http://www.legislation.gov.uk/ukpga/1999/16/section/39Finance Act 1999An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1999-08-05texttext/xmlenStatute Law Database2026-04-21Expert Participation2026-03-18 Part III Income Tax, Corporation Tax and Capital Gains Tax Relief for interest payments Withdrawal of relief for interest on new annuity loans.391In section 365 of the Taxes Act 1988 (relief for interest on loans to buy life annuities), in subsection (1), before paragraph (a) insert—aathat the loan was made before 9th March 1999;.2After subsection (1) of that section insert—1AAWhere—aa loan made on or after 9th March 1999 was made in pursuance of an offer made by the lender before that date, andbthe offer was either in writing or evidenced by a note or memorandum made by the lender before that date,the loan shall be deemed for the purposes of subsection (1)(aa) above to have been made before that date.3This section has effect for the year 1998-99 and subsequent years of assessment.