Income Tax (Trading and Other Income) Act 2005 section 143

Purchased life annuity payments: old determinations concerning capital elements

Section 143 of Schedule 2 dealt with transitional provisions relating to old determinations of the capital element in purchased life annuity payments, but has been repealed.

• This paragraph originally provided transitional rules for determinations of capital elements in purchased life annuity payments made under earlier legislation.
• The entire paragraph has been repealed and is no longer in force.
• The repeal was effected by Finance Act 2007, section 114 and Schedule 27, Part 2(13).
• Any matters previously governed by this paragraph are now addressed elsewhere in the tax code or are no longer relevant.