542 Replacement of qualifying policies
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

Supplementary

542  Replacement of qualifying policies

(1)     A qualifying policy (“the replaced policy”) and a policy of life insurance (“the replacement policy”) which replaces the replaced policy are treated as a single policy for the purposes of sections 484 to 497 if conditions A to D are met.

(2)     Condition A is that the replacement policy is also a qualifying policy under the rules in paragraph 17 of Schedule 15 to ICTA.

(3)     Condition

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