Income Tax (Trading and Other Income) Act 2005 section 529

Exceptions to section 528

Section 529 previously provided exceptions to the rules in section 528 regarding gains from life insurance policies, but was removed from the legislation with effect from 6 April 2013.

• Section 529 set out specific exceptions to the charging provisions in section 528 for gains on life insurance policies.
• The section was omitted in its entirety by the Finance Act 2013.
• The removal took effect in relation to any policy of life assurance issued in respect of an insurance made on or after 6 April 2013.
• Policies issued in respect of insurances made before 6 April 2013 may still be subject to the previous rules under transitional provisions.