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

Section 478: Exclusion of mortgage repayment policies

1909.This section is based on section 539 of ICTA. It excludes a particular type of policy taken out in connection with a mortgage. Other types of policy taken out in that connection may be affected by the rules for qualifying policies, such as section 485. See section 879 of this Act for the meaning of “mortgage” in the application of this section to Scotland.

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