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HMRC internal manual

Inheritance Tax Manual

Life Policies: life policy linked with an annuity: deferred annuity contract

This is a variant of the typical back-to-back scenario, where a deferred annuity contract is substituted for the life policy. The scope of IHTA84/S263 is extended by S263(3) to deal with this.

You should follow the instructions at IHTM20372.