Income Tax (Trading and Other Income) Act 2005 section 565

Interpretation of section 564

Section 565 provided definitions and interpretive rules for the purposes of section 564, which dealt with the taxation of gains from contracts for life insurance and similar policies — this section was repealed from the 2013–14 tax year onwards.

• Section 565 supported section 564 by defining key terms used in the rules on gains from life insurance contracts and related policies.
• It formed part of Chapter 12 (sections 555 to 569) of the Income Tax (Trading and Other Income) Act 2005, which addressed this specific area of income tax.
• The entire Chapter 12, including section 565, was removed from the legislation by Finance Act 2013 (Schedule 12, paragraph 13(2)).
• The repeal took effect from the 2013–14 tax year onwards, meaning these provisions no longer apply for that year or any subsequent tax year.