497Disregard of trivial inducement benefitsU.K.
(1)A benefit other than a payment of money is ignored for the purposes of calculating any gain under this Chapter if—
(a)it is provided by an insurance company for any person as an inducement for the person to enter into—
(i)a policy or contract to which this Chapter applies, or
(ii)a later transaction in relation to such a policy or contract, and
(b)the condition specified in subsection (2) is met.
(2)The condition is that the total cost to the insurance company of providing the benefit and any other such benefits provided by it at any time in connection with the policy or contract, or any linked policy or contract, does not exceed £30.
(3)The Treasury may by order amend the sum for the time being specified in subsection (2) so as to increase it.
(4)For the purposes of this section, a policy or contract is linked to another policy or contract if—
(a)their terms are substantially identical, and
(b)when one of them is issued or made the issue or making of the other is contemplated.