Finance Act 1989 (c. 26)
349(1)Amend section 85A (excess adjusted Case I profits) as follows.
(2)In subsection (1) for the words “Case I profits under Case VI of that Schedule” substitute “life assurance trade profits under the charge to corporation tax on income”.
(3)In subsection (2) for “Case I”, in both places where it occurs, substitute “life assurance trade”.
(4)In subsection (3)—
(a)for “Case I profits” substitute “life assurance trade profits”, and
(b)in paragraph (a) for “provisions applicable to Case I of Schedule D” substitute “life assurance trade profits provisions”.
(5)In subsection (4) for “Case I of Schedule D” substitute “section 35 of the Corporation Tax Act 2009”.
(6)In subsection (6)(b) omit “under Case VI of Schedule D”.
(7)In subsection (8)—
(a)in paragraph (b)—
(i)after “loan relationships” insert “under Part 5 of the Corporation Tax Act 2009”, and
(ii)omit the words from “by” to “1996”, and
(b)in paragraph (c)—
(i)for “paragraph 4(3) of that Schedule” substitute “section 389(1) of the Corporation Tax Act 2009”, and
(ii)omit “(in accordance with paragraph 4(5) of that Schedule)”.
(8)In the title for “Case I” substitute “life assurance trade”.