Commentary on Sections Overview Overview Section 18: Meaning of “savings income”
67.This section defines “savings income”. It is based on section 1A(1AA), (2), (3) and (4) of ICTA.
68.The definition includes income on which personal representatives are liable under section 466 of ITTOIA (gains from contracts for life insurance etc), removing an anomaly in the source legislation. See Change 2 in Annex 1.