Schedule 14 | Life policies, life annuities and capital redemption policies

Section 547

(1)Repealed^F1

Multiple interests

(2)Repealed^F1

Right of company to recover tax from trustees

(3)Repealed^F1

Foreign institution policies: no reduction under section 553

(4)Repealed^F1

Consequential amendments

(5)In section 7(9) of the Taxes Management Act 1970 (meaning of “relevant trustees” for the purposes of that Act)—

(a)in paragraph (a), after “in relation to income" there shall be inserted “ (other than gains treated as arising under Chapter II of Part XIII of the principal Act) ”; and

(b)after paragraph (a) there shall be inserted—

(aa)in relation to gains treated as arising under Chapter II of Part XIII of the principal Act, the persons who are trustees in the year of assessment in which the gains arise and any persons who subsequently become trustees; and

.

(6)Repealed^F2

Commencement

(1)Repealed^F3

(2)Repealed^F3

(3)Repealed^F4

(4)Repealed^F5

(5)... This Schedule has effect in relation to chargeable events happening on or after 6th April 1998.^F6