510 Requirement for transaction-related calculations in certain part surrender and assignment cases
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

Transaction-related calculations and part surrender or assignment events

510  Requirement for transaction-related calculations in certain part surrender and assignment cases

(1)     This section applies if—

(a)     the calculation in section 507 shows that a gain has arisen as at the end of the insurance year, but

(b)     one or both of the conditions specified in section 509(3) and (4) are met (and so no chargeable event

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