I read this and had to share it

[1eyedjack]

From Tolley's Capital Gains Tax:

 

A gain on the disposal after 8 April 2003 of, or of an interest in, rights under a life insurance policy or contract for a deferred annuity is not a chargeable gain unless, in the case of a disposal of the rights, the rights or any interest in the rights, or, in the case of a disposal of an interest in the rights, the rights, the interest or any interest from which all or part of the interest directly or indirectly derives, have at any time been acquired by any person for 'actual consideration'

 

There will be a short quiz after the class.

[helene_t]

Now I understand how my students feel after my lessons.

 

What about a poll to find out how people interpret the text? I will happily set up such a poll if you want me to.

[Fluffy]

I would never bother to try to understand it unless being paid.

[jandrew]

Perfectly straight-forward :)

[whereagles]

I would never bother to try to understand it unless being paid.

lol

[skjaeran]

I would never bother to try to understand it unless being paid.

A lot.

[mike777]

From Tolley's Capital Gains Tax:

 

A gain on the disposal after 8 April 2003 of, or of an interest in, rights under a life insurance policy or contract for a deferred annuity is not a chargeable gain unless, in the case of a disposal of the rights, the rights or any interest in the rights, or, in the case of a disposal of an interest in the rights, the rights, the interest or any interest from which all or part of the interest directly or indirectly derives, have at any time been acquired by any person for 'actual consideration'

 

There will be a short quiz after the class.

Since I work for one of the largest annuity/pension companies in the world I better know it. It is this stuff that keeps me in a job. I work with PHD people all day long, they own this stuff and do not understand it. In fact since I am old, I have to relearn it all the time, as you show they change the rules all the time. If I forget we got a bunch of tax lawyers sitting around all day for just this sort of thing. BTW I have family members who are tax lawyers, this pays for those second houses, etc.

 

You have to understand in America, Congress does basically one thing, tinker with the tax rules, to keep us all in jobs and they get reelection donations. Now you understand why they are way to busy taking all Fridays off or too busy to vote on the war issues.

[keylime]

I wish to have my feelings understood, my feelings felt, and my feelings ached over...but this is rather a bit much. Someone pass me some painkiller from all these feelings!

[whereagles]

Now I understand how my students feel after my lessons.

What do you teach? Algebraic geometry to newbie economists? :blink:

 

I'm teaching differential equations to wanna-be food engineers :rolleyes:

[Finch]

From Tolley's Capital Gains Tax:

 

A gain on the disposal after 8 April 2003 of, or of an interest in, rights under a life insurance policy or contract for a deferred annuity is not a chargeable gain unless, in the case of a disposal of the rights, the rights or any interest in the rights, or, in the case of a disposal of an interest in the rights, the rights, the interest or any interest from which all or part of the interest directly or indirectly derives, have at any time been acquired by any person for 'actual consideration'

 

There will be a short quiz after the class.

I've lost track. Is this before or after the tax law rewrite got to it?

 

p.s. this sort of stuff keeps my husband employed, but doesn't stop him moaning about it

[Finch]

You have to understand in America, Congress does basically one thing, tinker with the tax rules, to keep us all in jobs and they get reelection donations. Now you understand why they are way to busy taking all Fridays off or too busy to vote on the war issues.

I think you are impugning Congress unnecessarily.

 

This, I believe, is English tax law...