E1.441 Life insurance gains—definitions

Personal and employment tax

E1.441 Life insurance gains—definitions

E1.441 Life insurance gains—definitions

An 'insurance company' means an undertaking carrying on the business of effecting or carrying out contracts of insurance1.

A 'life insurance policy' means one made after 19 March 1968 or varied after that date to extend its term or increase the benefits2.

A 'life annuity' means a purchased life annuity as defined in ITTOIA 2005, s 423 which is not an 'excluded annuity' within ITTOIA 2005, s 718 and which is taken out after 19 March 19683.

A 'capital redemption policy' means a contract made after 19 March 1968 in the course of a capital redemption business within the

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