Income Tax (Trading and Other Income) Act 2005 section 90

Gains from contracts for life insurance etc: pure protection group life policies

Section 90 provides that certain events relating to pure protection group life policies that occurred before 9 April 2003 are not treated as chargeable events for the purposes of the life insurance gains rules.

• Events occurring before 9 April 2003 in relation to pure protection group life policies are deemed not to be chargeable events
• A pure protection group life policy is a group life policy that only pays out on death or disability
• The policy must have met the pure protection definition at the time the event occurred
• This transitional provision ensures that no tax charge arises on gains from these policies for pre-9 April 2003 events