Commentary

E1.431 Immediate needs annuities

Personal and employment tax

E1.431 Immediate needs annuities

Immediate needs annuities

E1.431 Immediate needs annuities

An 'immediate needs annuity' is a contract for a PLA the purpose (or one of the purposes) of which is to protect a person who is unable to live independently without assistance because of a specified condition which is expected to be permanent, and under which payments are made for the provision of care for that person. The conditions are mental or physical impairment, injury, sickness or other infirmity1.

'Care' means accommodation, goods or services which it is necessary or desirable to provide because of such a condition2. A 'care provider' is a

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial