Assignment on divorce

Legislation/Regulatory – IRInt. 257

Benefit of dependants

Legislation/Regulatory – ITEPA2003 s. 609, 612, 614

Capital element

Calculation

Commentary – Tax Reporter ¶345-550

Carry forward of excess

Legislation/Regulatory – ESC C35

Exceptions

Commentary – Tax Reporter ¶345-600
Case Law – LINDUS & HORTIN v. THE COMMISSIONERS OF INLAND REVENUE

Generally

Commentary – Tax Reporter ¶345-500

Treatment

Legislation/Regulatory – FA91 s. 76(2), (3)

Charge to tax

Deduction of tax, payments received after

Legislation/Regulatory – ITTOIA2005 s. 426

Generally

Legislation/Regulatory – ITTOIA2005 s. 422
HMRC Guidance – IPTM5010

Income charged

Legislation/Regulatory – ITTOIA2005 s. 424

Person liable

Legislation/Regulatory – ITTOIA2005 s. 425

Purchased life annuity payments, meaning

Legislation/Regulatory – ITTOIA2005 s. 423
HMRC Guidance – IHTM14250 ; IPTM1135 ; IPTM4220 ; IPTM4370

Chargeable gains, gains on disposal of rights/interest in rights

Legislation/Regulatory – TCGA92 s. 210

Damages for personal injury

– see Compensation and damages

Deferred annuity purchase, gains on disposal of rights/interest in rights

Legislation/Regulatory – TCGA92 s. 210

Divorce, pension sharing

– see Divorce or separation

Generally

Commentary – Tax Reporter ¶345-450
Case Law – Stevenston Securities, Ltd. v. Commissioners of Inland Revenue

HMRC's powers

Commentary – Tax Reporter ¶345-700

Immediate needs annuities

Legislation/Regulatory – ITTOIA2005 s. 725, 726

Income charged

Legislation/Regulatory – ITTOIA2005 s. 424

Inheritance tax

Generally

Commentary – Quick Overview ¶16155

Meaning

Commentary – Tax Reporter ¶644-350

Normal expenditure out of income, exempt on

Commentary – Tax Reporter ¶644-350

Interest relief

Generally

Commentary – Quick Overview ¶3080
Legislation/Regulatory – ICTA88 s. 365

On or after 9 March 1999

Legislation/Regulatory – ICTA88 s. 365(1AA)

Re-mortgages

Legislation/Regulatory – ICTA88 s. 365(1AB)-(1AD)

Residence requirements

Legislation/Regulatory – ICTA88 s. 365(1)(d)

Interest, exception from duty to deduct tax

Legislation/Regulatory – ITA2007 s. 883

Loans to purchase pre-1999, interest relief

Commentary – Tax Reporter ¶115-600

Meaning

Commentary – Tax Reporter ¶345-450 ; Tax Reporter ¶644-350
Legislation/Regulatory – ITTOIA2005 s. 423
Case Law – Stevenston Securities, Ltd. v. Commissioners of Inland Revenue

Mortality tables

Commentary – Tax Reporter ¶345-750 ; Tax Reporter ¶345-800
Case Law – Rose v. Trigg (H.M. Inspector of Taxes)

Normal expenditure out of income

Legislation/Regulatory – IHTA84 s. 21(2), (3)
HMRC Guidance – IHTM14250

Partial exemption

Appointment of tax representative

Legislation/Regulatory – SI 2008/562 reg. 10-20

Calculation of exempt proportion, term dependent solely on duration of life

Legislation/Regulatory – ITTOIA2005 s. 720

Calculation of exempt sum, term dependent solely on duration of life

Legislation/Regulatory – ITTOIA2005 s. 721

Consideration for grant of annuities

Legislation/Regulatory – ITTOIA2005 s. 722

Excluded annuities

Legislation/Regulatory – ITTOIA2005 s. 718
HMRC Guidance – IPTM7065

Extent of exemption

Legislation/Regulatory – ITTOIA2005 s. 719

Form not received, action to be taken

Legislation/Regulatory – SI 2008/562 reg. 8

Form to be returned on completion

Legislation/Regulatory – SI 2008/562 reg. 6

Generally

Legislation/Regulatory – ITTOIA2005 s. 717
HMRC Guidance – IPTM4220 ; IPTM4370 ; IPTM7135

Information and declaration by annuitant

Legislation/Regulatory – SI 2008/562 reg. 5

Initial steps for purchase

Legislation/Regulatory – SI 2008/562 reg. 4

Method of calculation of exempt amount

Legislation/Regulatory – ITTOIA2005 s. 719

Receipt of completed form, action to be taken

Legislation/Regulatory – SI 2008/562 reg. 7

Record-keeping

Legislation/Regulatory – SI 2008/562 reg. 21-25

Regulations, power to make

Legislation/Regulatory – ITTOIA2005 s. 724
HMRC Guidance – LAM04210

Person liable

Legislation/Regulatory – ITTOIA2005 s. 425

Purchase price

Commentary – Tax Reporter ¶345-650

Recognition of another's service

Legislation/Regulatory – ITEPA2003 s. 611, 612, 614

Regulations

Commentary – Tax Reporter ¶345-750

Savings income

Commentary – Tax Reporter ¶345-450
Case Law – Stevenston Securities, Ltd. v. Commissioners of Inland Revenue

Sponsored superannuation schemes

Legislation/Regulatory – ITEPA2003 s. 610, 612, 614

Tax advantages

Commentary – Gaines on Pension Tax 4.2

Third party payments of money/transfer of assets

Legislation/Regulatory – ITEPA2003 s. 554V

Variable purchase, carry forward of excess of capital element

Legislation/Regulatory – ITTOIA2005 s. 719