Income Tax (Trading and Other Income) Act 2005 Explanatory Notes

Section 489: Conditions applicable to alterations of life insurance policy terms

1936.This section is based on ESC A96. See Change 89 in Annex 1. The conditions in subsections (2) to (8) ensure among other things that the disregard provided by section 488 falls away if the policy is reactivated for investment purposes.

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