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Legislation
Income Tax (Trading and Other Income) Act 2005

Crossheading Policies and contracts to which Chapter 9 applies

  • Section 473 Policies and contracts to which Chapter 9 applies: general
  • Section 473A Connected policies or contracts treated as single policy or contract
  • Section 474 Special rules: qualifying policies
  • Section 475 Special rules: personal portfolio bonds
  • Section 476 Special rules: foreign policies
  • Section 477 Special rules: certain older policies and contracts
  • Section 478 Exclusion of mortgage repayment policies
  • Section 479 Exclusion of pension policies
  • Section 480 Exclusion of excepted group life policies
  • Section 481 Excepted group life policies: conditions about benefits
  • Section 482 Excepted group life policies: conditions about persons intended to benefit
  • Section 483 Exclusion of credit union group life policies
  1. Policies and contracts to which Chapter 9 applies
  2. Exclusion of excepted group life policies

Section 480 | Exclusion of excepted group life policies

From legislation.gov.uk

(1)This Chapter does not apply to an excepted group life policy.

(2)In this Chapter “group life policy” means a policy of life insurance whose terms provide—

(a)for the payment of benefits on the death of more than one individual, and

(b)for those benefits to be paid on the death of each of those individuals.

(3)In this section “excepted group life policy” means a group life policy with respect to which the conditions specified in the following sections are met—

(a)section 481 (conditions about benefits), and

(b)section 482 (conditions about persons intended to benefit).

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