SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
135
1
Amend section 436A (gross roll-up business: separate charge on profits) as follows.
2
For subsection (1) substitute—
1
The charge to corporation tax on income applies to profits arising to an insurance company from gross roll-up business.
3
In subsection (2)(b) for “provisions of this Act applicable to Case I of Schedule D” substitute “
life assurance trade profits provisions
”
.
4
In subsection (7) for “Case I of Schedule D” substitute “
section 35 of CTA 2009 (charge on trade profits)
”
.