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The Insurance Business Transfer Schemes (Amendment of the Corporation Tax Acts) Order 2008
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- UK Statutory Instruments
- 2008 No. 381
- Article 12
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Amendment of section 444ABA
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12.—(1) Section 444ABA (relevant non-transferred assets) is amended as follows.
(2) In subsection (1)—
(a)in the formula, for “RVA” substitute “BTO”, and
(b)for the definition of RVA substitute—
“BTO is the lesser of ABTO and AL13, where—
(a)
ABTO is any amount brought into account in respect of the assets as a business transfer-out and shown (or treated as shown) in line 32 of Form 40 in the periodical return of the transferor for the period of account of the transferor including the transfer date, and
(b)
AL13 is any positive amount shown (or treated as shown) in line 13 of Form 14 in the periodical return for the last period of account of the transferor ending before the transfer date.”
(3) Omit subsections (2) to (6).
(4) In subsection (7), omit “, and section 444AB for the meaning of “the relevant period of account,”.
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