Textual Amendments
F1Cross-heading before s. 434 inserted (with effect in accordance with Sch. 8 para. 57(1) of the amending Act) by Finance Act 1995 (c. 4), Sch. 8 para. 51(4) (with Sch. 8 para. 55(2))
(1)For the purposes of section 444AB the relevant amount in relation to assets that are relevant non-transferred assets is—
where—
FVA is the fair value of the assets on the transfer date, and
[F4BTO is the lesser of ABTO and AL13, where—
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
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.
(2)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)See section 444AA for the meaning of “the transfer date”F6. . . in this section.]]]
Textual Amendments
F2S. 444ABA inserted (with effect in accordance with Sch. 7 para. 3(2) of the amending Act) by Finance Act 2004 (c. 12), Sch. 7 para. 3(1)
F3Ss. 444AB-444ABC substituted for ss. 444AB, 444ABA (with effect in accordance with Sch. 9 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 9 para. 4(1); S.I. 2008/379, art. 2
F4Words in s. 444ABA(1) substituted (19.2.2008 with effect in accordance with art. 1(4) of the amending S.I.) by The Insurance Business Transfer Schemes (Amendment of the Corporation Tax Acts) Order 2008 (S.I. 2008/381), arts. 1(1), 12(2)(b)
F5S. 444ABA(2)-(6) omitted (19.2.2008 with effect in accordance with art. 1(4) of the repealing S.I.) by virtue of The Insurance Business Transfer Schemes (Amendment of the Corporation Tax Acts) Order 2008 (S.I. 2008/381), arts. 1(1), 12(3)
F6Words in s. 444ABA(7) omitted (19.2.2008 with effect in accordance with art. 1(4) of the repealing S.I.) by virtue of The Insurance Business Transfer Schemes (Amendment of the Corporation Tax Acts) Order 2008 (S.I. 2008/381), arts. 1(1), 12(4)