463Income chargedU.K.
This section has no associated Explanatory Notes
(1)Tax is charged under this Chapter on the amount of the gains arising in the tax year.
(2)Subsection (1) is subject to section 514(4) (under which certain gains are charged for a later tax year).
(3)See section 469(3) for the apportionment of gains where two or more persons are interested in a policy or contract.
(4)See sections 491 to 497, 507, 508, 511 to 513, 522 to 524 and 527 to 529 for the rules as to how the gains are calculated.