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Finance (No. 2) Act 2005

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Point in time view as at 17/07/2012.

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Section 42

SCHEDULE 9U.K.Insurance companies etc

Expenses of insurance companiesU.K.

F11U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 9 paras. 1-3 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Interpretative provisions relating to insurance companiesU.K.

F12U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 9 paras. 1-3 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Amendment of Chapter 1 of Part 12 of ICTA etcU.K.

F13U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 9 paras. 1-3 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Apportionment of income and gainsU.K.

F24U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2Sch. 9 para. 4 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(10)

Section 432B apportionment: participating fundsU.K.

F35U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3Sch. 9 para. 5 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Transfers of business: deemed periodical returnU.K.

F46U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4Sch. 9 para. 6 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(9)

Transfers of business: modification of section 444AC of ICTAU.K.

F57U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F5Sch. 9 para. 7 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(9)

Transfers of business: transferor shares are assets of transferee's long-term insurance fund etcU.K.

F68U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6Sch. 9 para. 8 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(10)

Equalisation reserves for general businessU.K.

9(1)Section 444BA of ICTA is amended as follows.U.K.

(2)In subsection (11) (meaning of “equalisation reserves rules”) for “Chapter 6 of the Prudential Sourcebook (Insurers)” substitute “ chapter 7.5 of the Integrated Prudential Sourcebook ”.

(3)The amendment made by this paragraph has effect in relation to periods of account ending on or after 31st December 2004.

Unappropriated surplus on valuationU.K.

F710U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F7Sch. 9 para. 10 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Relevant financial reinsurance contractsU.K.

F811U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F8Sch. 9 para. 11 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(9)

Receipts to be taken into accountU.K.

F912U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9Sch. 9 paras. 12-15 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Meaning of “brought into account”U.K.

F913U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9Sch. 9 paras. 12-15 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Changes in recognised accounts: attribution of amounts carried forward under s.432F of ICTAU.K.

F914U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9Sch. 9 paras. 12-15 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Charge of certain receipts of basic life assurance businessU.K.

F915U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9Sch. 9 paras. 12-15 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Corporation tax: policy holders' fraction of profitsU.K.

F1016U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F10Sch. 9 para. 16 repealed (with effect in accordance with art. 1 of the amending S.I.) by The Insurance Companies (Corporation Tax Acts) (Amendment) Order 2005 (S.I. 2005/3465), arts. 1, 10(b)

Overseas life insurance companiesU.K.

F1117U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11Sch. 9 para. 17 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Meaning of “pension business”U.K.

F1218U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F12Sch. 9 para. 18 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(m)

Miscellaneous references to “class” of businessU.K.

19F13(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F13(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F13(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F14(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)The amendments made by this paragraph have effect in relation to periods of account beginning on or after 1st January 2005.

Textual Amendments

F13Sch. 9 para. 19(1)-(3) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(7)

F14Sch. 9 para. 19(4) omitted (with effect in accordance with Sch. 17 para. 17(12) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 17 para. 17(11)(f)

Transfers of business: references to accounting period ending with day of transferU.K.

20(1)Section 12 of ICTA (corporation tax: basis of, and periods for, assessment) is amended as follows.U.K.

F15(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F17(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7)The amendments made by sub-paragraphs (2) to (5) have effect in relation to insurance business transfer schemes taking place on or after 16th March 2005.

(8)The amendment made by sub-paragraph (6) has effect where the accounting period for which the net amount represents an excess of losses over gains is an accounting period beginning on or after 1st January 2003.

Textual Amendments

F15Sch. 9 para. 20(2) repealed (with effect in accordance with art. 1(2) of the amending S.I.) by The Insurance Business Transfer Schemes (Amendment of the Corporation Tax Acts) Order 2008 (S.I. 2008/381), art. 1(1), Sch. Pt. 1

F16Sch. 9 para. 20(3)-(5) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(9)

F17Sch. 9 para. 20(6) repealed (with effect in accordance with art. 1(2) of the amending S.I.) by The Insurance Business Transfer Schemes (Amendment of the Corporation Tax Acts) Order 2008 (S.I. 2008/381), art. 1(1), Sch. Pt. 1

Yn ôl i’r brig

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