Some annual payments made under an immediate needs annuity are exempt from income tax1. .
The exempt payments are those that are made for the benefit of a person protected under that annuity, and to a care provider, or local authority, in respect of the provision of care for that person2.
For these purposes, 'care' means accommodation, goods or services which it is necessary, or desirable, to provide to a person because of their condition3.
A 'care provider' is a person who carries on a trade, profession or vocation that consists of or includes the provision of care and
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Web page updated on 17 Mar 2025 16:40