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Income Tax (Trading and Other Income) Act 2005 section 485
Pre-14th March 1989 qualifying policies: application of section 485(2)(b) and (3)(b)
Section 485 schedule 2 paragraph 107 deals with how the chargeable event rules in section 485 apply differently to qualifying life insurance policies taken out before 14th March 1989, and when a pre-existing policy loses that favourable treatment due to later variations.
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