Finance Act 2012 (c. 14)

PART 2 U.K. Insurance companies carrying on long-term business

CHAPTER 2 U.K. Charge to tax on I - E basis etc

PHI only business U.K.

72 Companies carrying on only PHI business U.K.

Nothing in—

(a) this Part, or

(b) any other provision of the Corporation Tax Acts that makes special provision in relation to, or by reference to, long-term business carried on by insurance companies,

is to apply in relation to a company which carries on long-term business which consists wholly of PHI business.