Commentary

E1.452CB Life insurance gains—reduction of gain: policies issued between 21 March 2012 and 5 April 2013

Personal and employment tax

E1.452CB Life insurance gains—reduction of gain: policies issued between 21 March 2012 and 5 April 2013

E1.452CB Life insurance gains—reduction of gain: policies issued between 21 March 2012 and 5 April 2013

Some protection is afforded for policies issued prior to the introduction of the premium limit for qualifying policies (see E1.443) There is a reduction of a gain in the following circumstances1:

  1.  

    •     a policy is issued between 21 March 2012 and 5 April 2013 inclusive, but not in substitution for a protected policy (see Division E1.13)

  2.  

    •     after issue, the policy is a qualifying policy, but not a restricted relief qualifying policy

  3.  

    •     as a result of a variation in the policy after 5

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