Capital Allowances Act 2001
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Nodiadau Esboniadol
104(1)Section 545 (investment assets) is amended as follows.
(2)In subsection (1), for “life assurance business” substitute “long-term business”.
(3)For subsections (3) to (5) substitute—
“(3)No allowance in respect of an investment asset is to be taken into account in calculating for corporation tax purposes the profits of any non-BLAGAB long-term business carried on by the company.”