IPTM4340 | Purchased life annuities: partial exemption scheme: consideration

If, for the purposes of the formulae at IPTM4320 (exempt proportion) and IPTM4330 (exempt sum), it is necessary to determine the purchase price of a purchased life annuity, this is taken to be equal to the total amount or value given for it.

If either

• consideration is not given solely for the annuity, or

• it appears that the consideration given nominally for it affected, or was affected by, the consideration given for something else

the consideration, or as the case may be the total amount or value of the considerations, is apportioned in such a way as is just and reasonable.