Finance Act 1989

[F1 2 (1) In its application to an overseas life insurance company section 89 of this Act shall have effect with the following modificationsF2 ... . U.K.

F3 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F4 (2A) In subsection (1B), the reference to income and chargeable gains referable to the company’s basic life assurance and general annuity business shall be construed as a reference to so much of that income and those gains as falls to be attributed, for the purposes of section 11AA(2) of the Taxes Act 1988, to the permanent establishment in the United Kingdom through which the company carries on life assurance business.

(2B) In subsection (1B), the reference to the aggregate amount of the items specified in paragraphs (a) to (c) of that subsection shall be construed as a reference to the aggregate of so much of the amount of each of those items as falls to be attributed, for the purposes of section 11AA(2) of the Taxes Act 1988, to that permanent establishment.

(2C) In paragraph (b) of subsection (2), the reference to distributions shall be construed as a reference to so much of the distributions mentioned in that paragraph as falls to be attributed, for the purposes of section 11AA(2) of the Taxes Act 1988, to that permanent establishment.]

(3) Any reference in subsection (5)(a) to income shall be construed as a reference to such of the income concerned as is attributable to [F5 that permanent establishment].

[F6 (4) The reference in subsection (5)(b) to assets shall be construed as a reference to such of the assets concerned as fall to be attributed, for the purposes of section 11AA(2) of the Taxes Act 1988, to that permanent establishment.]

(5) In subsection (5)(c) the reference to expenses shall be construed as a reference to such of the expenses concerned as are attributable to [F7 that permanent establishment].

(6) In subsection (5)(d) the reference to interest shall be construed as a reference to such of the interest concerned as is so attributable.

[F8 (6A) Where the company is an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to the Financial Services and Markets Act 2000, subsection (6) shall have effect as if, for the words from ““brought into account”” to “(Insurers);” there were substituted ““brought into account” means brought into account in the technical accounts included in accounts drawn up in accordance with the Council Directive of 19th December 1991 on the annual accounts and consolidated accounts of insurance undertakings (No.91/674/EEC), in respect of the whole of the company’s long-term business or such of that business as is carried on through the permanent establishment in the United Kingdom through which the company carries on life assurance business;”.]

F9 (7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F10 (7A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F11 (8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12 (9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F13 (10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F14 (11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F1 Sch. 8A inserted (27.7.1993) by 1993 c. 34, s. 101(2), Sch. 10

F2 Words in Sch. 8A para. 2(1) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(a)

F3 Sch. 8A para. 2(2) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(3)(b)

F4 Sch. 8A para. 2(2A)-(2C) inserted (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(c)

F5 Words in Sch. 8A para. 2(3) substituted (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(d)

F6 Sch. 8A para. 2(4) substituted (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(e)

F7 Words in Sch. 8A para. 2(5) substituted (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(f)

F8 Sch. 8A para. 2(6A) inserted (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(g)

F9 Sch. 8A para. 2(7) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(h)

F10 Sch. 8A para. 2(7A) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(h)

F11 Sch. 8A para. 2(8) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(h)

F12 Sch. 8A para. 2(9) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(h)

F13 Sch. 8A para. 2(10) omitted (with effect in accordance with reg. 1 of the amending S.I.) by virtue of The Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200), regs. 1(1), 6(10)(h)

F14 Sch. 8A para. 2(11) repealed (1.5.1995 with effect in accordance with Sch. 8 para. 57 of the amending Act) by 1995 c. 4, s. 162, Sch. 29 Pt. VIII(5), note 2