11 Gains from contracts for life insurance etc
Finance Act 2012 (2012 c 14) | Legislation

11  Gains from contracts for life insurance etc

(1)     In Chapter 9 of Part 4 of ITTOIA 2005 (gains from contracts for life insurance etc), after section 473 insert—

“473A Connected policies or contracts treated as single policy or contract

(1)     Policies or contracts which are connected with each other are treated as a single policy or contract for the purposes of this Chapter.

(2)     A policy or contract is “connected” with another policy or contract if—

(a)     they meet the condition in subsection (3) in relation to each other, and

(b)     the terms on which either of them is issued are significantly more or less favourable than would reasonably be expected if the other were ignored or any policy or contract meeting the condition in that subsection in relation to either of them were ignored.

(3)     A policy or contract

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