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- Point in Time (12/02/2019)
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There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Section 473A.
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(1)Policies or contracts which are connected with each other are treated as a single policy or contract for the purposes of this Chapter.
(2)A policy or contract is “connected” with another policy or contract if—
(a)they meet the condition in subsection (3) in relation to each other, and
(b)the terms on which either of them is issued are significantly more or less favourable than would reasonably be expected if the other were ignored or any policy or contract meeting the condition in that subsection in relation to either of them were ignored.
(3)A policy or contract meets the condition in this subsection in relation to another policy or contract if—
(a)they are at any time simultaneously in force, and
(b)either of them is issued with reference to the other or with a view to enabling the other to be issued on particular terms or facilitating its being issued on those terms.
(4)If—
(a)there is a policy or contract (“A”) with which two or more other policies or contracts are connected as a result of subsection (2), but
(b)the other policies or contracts are not connected with each other as a result of that subsection,
A and the other policies or contracts are (as a result of this subsection) to be regarded as “connected” with each other.]
Textual Amendments
F1S. 473A inserted (with effect in accordance with s. 11(4)-(6) of the amending Act) by Finance Act 2012 (c. 14), s. 11(1)
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