717Exemption for part of purchased life annuity paymentsU.K.
This section has no associated Explanatory Notes
(1)No liability to income tax arises under Chapter 7 of Part 4 in respect of so much of an annuity payment made under a purchased life annuity as is within this subsection in accordance with section 719 (extent of exemption).
(2)Subsection (1) is subject to section 718.
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)In this Chapter “purchased life annuity” has the same meaning as in Chapter 7 of Part 4 (see section 423).
Textual Amendments
F1S. 717(3) repealed (6.4.2008) by Finance Act 2007 (c. 11), s. 46(5)(9), Sch. 27 Pt. 2(13); S.I. 2008/561, art. 2