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

Part 4 U.K. Savings and investment income

Chapter 7 U.K. Purchased life annuity payments

424 Income charged U.K.

(1) Tax is charged under this Chapter on the full amount of the annuity payments arising in the tax year.

(2) Subsection (1) is subject to Part 8 (foreign income: special rules).