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Finance Act 1989

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Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

Life assuranceU.K.

F182 Calculation of profits: bonuses etcU.K.

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Textual Amendments

F1S. 82 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 49

F282ACalculation of profits: policy holders' taxU.K.

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Textual Amendments

F2S. 82A omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 50

F382BUnappropriated surplus on valuationU.K.

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Textual Amendments

F3S. 82B omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 51

F482CRelevant financial reinsurance contractsU.K.

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Textual Amendments

F4S. 82C repealed (with effect in accordance with Sch. 9 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 9 para. 9, Sch. 27 Pt. 2(9); S.I. 2008/379, art. 2

F582D.Treatment of profits: life assurance — adjustment consequent on change in Insurance Prudential SourcebookU.K.

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Textual Amendments

F5Ss. 82D-82F omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 52

F582E.Section 82D: treatment of transferors under insurance business transfer schemesU.K.

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Textual Amendments

F5Ss. 82D-82F omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 52

F582F.Section 82D: treatment of transferees under insurance business transfer schemesU.K.

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Textual Amendments

F5Ss. 82D-82F omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 52

F7 83 Receipts to be [F6taken] into account.U.K.

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Textual Amendments

F6Word in s. 83 heading substituted (with effect in accordance with Sch. 33 para. 2(12) of the amending Act) by Finance Act 2003 (c. 14), Sch. 33 para. 2(10)

F7S. 83 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 53

F883XAStructural assetsU.K.

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Textual Amendments

F8S. 83XA omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 54

F983YAChanges in value of assets brought into account: non-profit companiesU.K.

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Textual Amendments

F9S. 83YA omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 55

F1083YBMeaning of “appropriate line 51 amount” for purposes of s.83YAU.K.

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Textual Amendments

F10S. 83YB omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 55

F1183YCFAFTS: charge in relevant period of accountU.K.

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Textual Amendments

F11Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F1183YDFAFTS: deduction in subsequent periods of accountU.K.

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Textual Amendments

F11Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F1183YERegulations: apportionment and redefining “financial reinsurance arrangement”U.K.

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Textual Amendments

F11Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F1183YFFinancial reinsurance arrangements: further provisionU.K.

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Textual Amendments

F11Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F1283ZAContingent loansU.K.

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Textual Amendments

F12S. 83ZA omitted (with effect in accordance with Sch. 17 para. 4(1) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 17 para. 1(4) (with Sch. 17 para. 4(4))

F13 83A Meaning of “brought into account”.U.K.

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Textual Amendments

F13S. 83A omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 57

F1483BChanges in recognised accounts: attribution of amounts carried forward under s.432F of Taxes Act 1988U.K.

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Textual Amendments

F14S. 83B omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 58

F1583AA Amounts added to long term insurance fund of a company in excess of that company’s loss.U.K.

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Textual Amendments

F15S. 83AA repealed (with effect in accordance with Sch. 9 para. 17(2)(3) of the amending Act) by Finance Act 2007 (c. 11), Sch. 9 para. 11(2)(b), Sch. 27 Pt. 2(9); S.I. 2008/379, art. 2

F1683AB Treatment of surplus where there is a subsequent transfer of business from the company etc. U.K.

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Textual Amendments

F16S. 83AB repealed (with effect in accordance with Sch. 9 para. 17(2)(3) of the amending Act) by Finance Act 2007 (c. 11), Sch. 9 para. 11(2)(c), Sch. 27 Pt. 2(9); S.I. 2008/379, art. 2

84 Interpretation of sections 85 to 89 and further provisions about insurance companies.U.K.

F17(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F18(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F19(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F20(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F21(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17S. 84(1) repealed (10.7.2003) by Finance Act 2003 (c. 14), Sch. 43 Pt. 3(12)

F20S. 84(4) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(a)(i)

F2385 Charge of certain receipts of basic life assurance business.U.K.

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Textual Amendments

F23S. 85 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 59

F2585AExcess adjusted [F24life assurance trade] profitsU.K.

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Textual Amendments

F24Words in s. 85A heading substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 349(8) (with Sch. 2 Pts. 1, 2)

F25S. 85A omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 60

F2686 Spreading of relief for acquisition expenses.U.K.

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Textual Amendments

F26S. 86 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 61

F2787 Management expenses.U.K.

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Textual Amendments

F2988 Corporation tax: policy holders’ [F28share] of profits.U.K.

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Textual Amendments

F28Word in s. 88 heading substituted (with effect in accordance with Sch. 10 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 15(3)

F29S. 88 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 62

F3088A Lower corporation tax rate on certain insurance company profits.U.K.

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Textual Amendments

F30S. 88A repealed (with effect in accordance with Sch. 33 para. 13(11) of the amending Act) by Finance Act 2003 (c. 14), Sch. 33 para. 13(3), Sch. 43 Pt. 3(12)

F31 89 Policy holders’ share of profits.U.K.

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Textual Amendments

F31S. 89 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 63

F3289A Modification of sections 82 to 83A, 88 and 89 in relation to overseas life insurance companies.U.K.

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Textual Amendments

F32S. 89A repealed (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), reg. 1, Sch. Pt. 1

F3390 Life policies etc. held by companies.U.K.

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Textual Amendments

F33S. 90 omitted (with effect in accordance with Sch. 14 para. 18 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 14 para. 17(a)

F3490AInterpretationU.K.

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Textual Amendments

F34S. 90A repealed (with effect in accordance with Sch. 10 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 14(3)(c), Sch. 27 Pt. 2(10)

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