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Finance Act 1988

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Changes over time for: Cross Heading: Payments securing annuities

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Version Superseded: 21/07/2009

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Point in time view as at 24/07/2002.

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There are currently no known outstanding effects for the Finance Act 1988, Cross Heading: Payments securing annuities. Help about Changes to Legislation

Payments securing annuitiesU.K.

10U.K.For the year 1990-91 and subsequent years of assessment the following section shall be substituted for section 273 (payments securing annuities)—

273 Payments securing annuities.

Subject to sections 274, 617(3) and 619(6), if the claimant is, under any Act of Parliament or under any terms and conditions of employment, liable to the payment of any sum, or to the deduction from any salary or stipend of any sum, for the purpose of securing a deferred annuity to a widow or widower of the claimant or provision for the claimant’s children after the claimant dies, the claimant shall be entitled to a deduction from the amount of income tax on which he or she is chargeable equal to income tax at the basic rate on the amount of the sum which he or she has paid or which has been deducted from his or her salary or stipend.

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