TCTM04612 - Further disregards in the calculation of investment income
Payments under immediate needs annuities or health and employment insurance payments
»Ê¹ÚÌåÓýapp Tax Credits (Definition and Calculation of Income) Regulations, Regulation 10, (2) Table 4, item 13
When calculating investment income, disregard the following:
- »Ê¹ÚÌåÓýapp whole amount of any payment which is exempt from income tax by virtue of s725 of ITTOIA - annual payments under immediate needs annuities.
- »Ê¹ÚÌåÓýapp whole amount of any payment which is exempt from income tax by virtue of s735 of ITTOIA - health and employment insurance payments. (For example: Permanent health insurance policies and employment protection policies).