Part 4Savings and investment income
C1C3C2Chapter 9Gains from contracts for life insurance etc.
Annotations:
Modifications etc. (not altering text)
C3
Pt. 4 Ch. 9 applied (with modifications) by The Child Trust Funds Regulations 2004 (S.I. 2004/1450), reg. 38 (as amended (6.4.2010) by S.I. 2010/582, regs. 1, 18)
C2
Pt. 4 Ch. 9: power to exclude conferred (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 61(4) (with s. 147, Sch. 17)
Charge to tax under Chapter 9
463Income charged
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.
Pt. 4 Ch. 9 applied (with modifications) by The Individual Savings Account Regulations 1998 (S.I. 1998/1870), reg. 36 (as added by S.I. 1998/3174, reg. 12 and as amended (6.4.2008) by S.I. 2008/704, regs. 1, 17(4))