[463B Restricted relief qualifying policies: allowable premiums]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[463B  Restricted relief qualifying policies: allowable premiums]

[(1)     This section sets out how to determine the extent to which premiums payable under policy X during the policy X period are allowable premiums for the purposes of section 463A(3).

(2)     A premium payable under policy X is allowable if it is payable before the restricted relief date.

(3)     In this section “the restricted relief date” means—

(a)     6 April 2013, or

(b)     if later, the date on which policy X became a restricted relief qualifying policy.

(4)     Premiums payable under policy X in a relevant premium period are allowable so far as they do not exceed in total the premium limit for the period.

(5)     In subsection (4) “relevant premium period” means—

(a)     any period of one year which—

(i)     begins with a relevant date, and

(ii)     ends in the policy X period, and

(b)     if it is not covered by paragraph (a), the period which—

(i)     begins with the last relevant date to fall within the policy X period, and

(ii)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Common law offence of false imprisonment

Common law offence of false imprisonmentThe offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with

LEXISNEXIS

Standard of care in professional negligence claims

Standard of care in professional negligence claimsThis Practice Note considers the standard of care in professional negligence claims, originally formulated in Bolam v Friern Hospital as being that of reasonable skill and care but now reconsidered following Montgomery v Lanarkshire Health. It

LEXISNEXIS

Unless orders

Unless ordersThis Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.This Practice Note provides guidance on

LEXISNEXIS

Grounds of appeal—introducing new evidence

Grounds of appeal—introducing new evidenceCoronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. The