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Legislation
Income Tax (Trading and Other Income) Act 2005

Crossheading When chargeable events occur: general

  • Section 484 When chargeable events occur
  • Section 485 Disregard of certain events in relation to qualifying policies
  • Section 486 Exclusion of maturity of capital redemption policies in certain circumstances
  • Section 487 Disregard of certain assignments
  • Section 488 Disregard of some events after alterations of life insurance policy terms
  • Section 489 Conditions applicable to alterations of life insurance policy terms
  • Section 490 Last payment under guaranteed income bonds etc. treated as total surrender
  1. When chargeable events occur: general
  2. Disregard of certain assignments

Section 487 | Disregard of certain assignments

From legislation.gov.uk

For the purposes of this Chapter, an assignment of rights under a policy or contract or a share in such rights is ignored if it is—

(a)by way of security for a debt,

(b)on the discharge of a debt secured by the rights or share, or

(c)between spouses or civil partners living together.

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