Part 4Savings and investment income

Chapter 7Purchased life annuity payments

422Charge to tax on purchased life annuity payments

1

Income tax is charged on annuity payments made under a purchased life annuity.

2

For exemptions, see in particular—

a

section 717 (exemption for part of purchased life annuity payments),

b

section 725 (annual payments under immediate needs annuities),

c

section 731 (periodical payments of personal injury damages), and

d

section 732 (compensation awards).