Income Tax Act 2007 section 809AZD

Exception: certain annuities

Section 809AZD exempts certain annuity payments from the rules in Chapter 5A that deal with the transfer of income streams.

  • Chapter 5A does not apply when a person transfers the right to receive annual payments under a life annuity
  • Chapter 5A does not apply when a person transfers the right to receive annual payments under an annuity that counts as pension income
  • A life annuity for this purpose has the same meaning as in section 473(2) of ITTOIA 2005
  • Pension income for this purpose has the same meaning as in Part 9 of ITEPA 2003

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