495 Disregard of certain amounts in calculating gains under section 491
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

495  Disregard of certain amounts in calculating gains under section 491

(1)     A retained replacement policy premium is ignored in calculating—

(a)     the total benefit value of a policy under section 492(1), or

(b)     the total allowable deductions for a policy under section 494(1).

(2)     In subsection (1) “retained

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