1U.K.In section 76 of the Taxes Act 1988 (expenses of management of insurance companies) in subsection (1)—
(a)in paragraphs (ca) F1..., for the words “basic life assurance business” there shall be substituted in each place the words “basic life assurance and general annuity business ”;
(b)in paragraph (d), the words “general annuity business” shall cease to have effect.
Textual Amendments
F1Words in Sch. 7 para. 1(a) repealed (with effect for accounting periods beginning on or after 1.1.2003 except those ending before 9.4.2003 in accordance with Sch. 33 para. 8(4), Sch. 43 Pt. 3(12) Note 6 of the amending Act) by Finance Act 2003 (c. 14), Sch. 43 Pt. 3(12)