PART XII SPECIAL CLASSES OF COMPANIES AND BUSINESSES

CHAPTER I INSURANCE COMPANIES, UNDERWRITERS AND CAPITAL REDEMPTION BUSINESS

Basis of taxation etc

F1432B Apportionment of receipts brought into account.

(1)

This section and F2sections 432C to F3432G have effect where it is necessary in accordance with section 83 of the Finance Act 1989 to determine what parts of any items F4brought into account, within the meaning of that section, are referable to life assurance business or F5gross roll-up business.

F6(2)

Where for that purpose reference falls to be made to more than one account recognised for the purposes of that section, the provisions of sections 432C to F7432G apply separately in relation to each account.

(3)

F8Section 432C applies where the business with which an account is concerned (“the relevant business”) relates exclusively to policies or contracts under which the policy holders or annuitants are not eligible to participate in surplus; and F9sections 432E and 432F apply where the relevant business relates wholly or partly to other policies or contracts F10(and section 432G applies in either case).

F11(4)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F13(8)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8A)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8B)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8C)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8D)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8E)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8F)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8G)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(9)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(10)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(11)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F14(12)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .