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Income Tax (Trading and Other Income) Act 2005

Paragraph 610: section 644A of ITEPA

3522.This new section of ITEPA gives a person receiving payments under an insurance policy which ensures against a health and employment risk exemption from taxation on those payments as pension or annuity income.

3523.This rewrites section 580A(7) of ICTA to the extent that it relates to pension income.

3524.The commentary on new section 325A of ITEPA applies equally to this section except that the insurance payments must be to the pensioner rather than the employee.

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