Section 644A Health and employment insurance payments
|
|
 |
£8.04 on Kindle |
 |
£20 eBook download |
Amendments
Section 644A inserted by Income Tax (Trading and Other Income) Act 2005 section 882(1) and Schedule 1 para 610 for 2005-06 and later tax years (for income tax purposes), and for accounting periods ending after 5 April 2005 (for corporation tax purposes).
(1) No liability to income tax arises in respect of a pension or annuity payment if or to the extent that—
(a) were the payment an annual payment falling within Chapter 7 of Part 5 of ITTOIA 2005, it would be exempt from income tax under section 735 of that Act (health and employment insurance payments), and
(b) it meets conditions A and B.
(2) Condition A is that the payments are made—
(a) to a person (“the pensioner”) who made payments or contributions in respect of premiums under an insurance policy which another person took out wholly or partly for the pensioner’s benefit, or
(b) to the pensioner’s [spouse or civil partner]1.
Amendments
1 Substituted for the words “husband or wife” by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229) regulation 162 from 5 December 2005.
(3) Condition B is that the payments are attributable on a just and reasonable basis to the payments or contributions in respect of premiums.
|
|
