CG69060 - Life insurance policies/deferred annuities: computation of gains

In computing the gain on a disposal of the rights conferred by a life insurance policy, or an interest in those rights, the allowable expenditure is

  • subject to the Capital Gains Tax rules substituting some other amount the consideration in money or money바카라 사이트™s worth given for the acquisition of the rights, or interest in the rights, and
  • the total amount of any premiums paid by the person making the disposal.

All the sums are regarded as being expenditure under TCGA92/S38 (1)(a) and none under TCGA92/S38 (1)(b) - see CG15150+.

See CG69044 regarding valuations if the normal rules of Capital Gains Tax (such as TCGA92/S17 - consideration given replaced by market value if transaction not a bargain made at arm바카라 사이트™s length) require that some valuation is used in the computation.