Point in time view as at 31/01/2013.
Finance Act 1999, Section 39 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)In section 365 of the Taxes Act 1988 (relief for interest on loans to buy life annuities), in subsection (1), before paragraph (a) insert—
“(aa)that the loan was made before 9th March 1999;”.
(2)After subsection (1) of that section insert—
“(1AA)Where—
(a)a loan made on or after 9th March 1999 was made in pursuance of an offer made by the lender before that date, and
(b)the offer was either in writing or evidenced by a note or memorandum made by the lender before that date,
the loan shall be deemed for the purposes of subsection (1)(aa) above to have been made before that date.”
(3)This section has effect for the year 1998-99 and subsequent years of assessment.
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