Assignment on divorce

Benefit of dependants

Capital element

Calculation

Carry forward of excess

Exceptions

Generally

Treatment

Charge to tax

Deduction of tax, payments received after

Generally

Income charged

Person liable

Purchased life annuity payments, meaning

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

Damages for personal injury

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

Divorce, pension sharing

Generally

HMRC's powers

Immediate needs annuities

Income charged

Inheritance tax

Generally

Meaning

Normal expenditure out of income, exempt on

Interest relief

Generally

On or after 9 March 1999

Re-mortgages

Residence requirements

Interest, exception from duty to deduct tax

Loans to purchase pre-1999, interest relief

Meaning

Mortality tables

Normal expenditure out of income

Partial exemption

Appointment of tax representative

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

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

Consideration for grant of annuities

Excluded annuities

Extent of exemption

Form not received, action to be taken

Form to be returned on completion

Generally

Information and declaration by annuitant

Initial steps for purchase

Method of calculation of exempt amount

Receipt of completed form, action to be taken

Record-keeping

Regulations, power to make

Person liable

Purchase price

Recognition of another's service

Regulations

Savings income

Sponsored superannuation schemes

Tax advantages

Third party payments of money/transfer of assets

Variable purchase, carry forward of excess of capital element