Income Tax (Trading and Other Income) Act 2005(c. 5) - Explanatory Notes

Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Part 4: Savings and investment income

Chapter 9: Gains from contracts for life insurance etc.

Section 482: Excepted group life policies: conditions about persons intended to benefit

1915. This section completes the conditions relating to an excepted group life policy. It is based on section 539A of ICTA.

1916. Subsection (3) uses the term “connected”. Section 878 of this Act applies section 839 of ICTA (how to tell whether persons are connected) for this purpose.