[F19(1)This paragraph applies where the qualifying activity is [F2basic life assurance and general annuity business] and the profits of that business are charged to tax [F2in accordance with the I - E rules].U.K.
(2)The company incurs a loss in a chargeable period if in that chargeable period an amount falls to be carried forward to a succeeding chargeable period under [F3section 73 of FA 2012] (carrying forward unrelieved expenses).
(3)The amount of the loss is the amount which falls to be so carried forward.]
Textual Amendments
F1Sch. A1 inserted (with effect in accordance with Sch. 25 para. 9 of the amending Act) by Finance Act 2008 (c. 9), Sch. 25 para. 5
F2Words in Sch. A1 para. 9(1) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 106(3)(a)
F3Words in Sch. A1 para. 9(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 106(3)(b)