493 The value of a policy or contract
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

493  The value of a policy or contract

(1)     In the case of a chargeable event within section 484(1)(a) (i) or (iii), (c), (d) or (e) (surrender of all rights, final participation in profits, maturity or, in the case of a contract for a life annuity that provides for taking a capital sum on death, death or taking a capital sum as a complete alternative to annuity payments), the value of the policy or contract is the total of—

(a)

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