524 The total amount of part surrender gains
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

524  The total amount of part surrender gains

(1)     To calculate the total amount of part surrender gains—

Step 1

Apply the provisions of this Chapter mentioned in subsection (3) as modified by subsections (4) and (5) in relation to the policy or contract as at the end of each previous insurance year during its existence.

Step 2

Determine whether in each case those provisions

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