Section RM 29 — Income Tax Act 2007: Limits on refunds when person no longer PCA person

RM 29 Limits on refunds when person no longer PCA person When this section applies (1) This section applies when a person stops being a PCA person and is entitled to a refund as described in section RM 28(1) for a tax year in which they were a PCA person. Limit on amount of refund (2) The amount refunded must be no more than the final balance of the policyholder credit account just before the person stopped being a PCA person. Defined in this Act: amount , PCA person , PCA return , policyholder credit account , return , tax year , Compare: 2004 No 35 s MD 3(2)