SCHEDULES
SCHEDULE 8 Life assurance business
Part II Application of provisions to overseas life insurance companies
43
1
In paragraph 10(1) of Schedule 19AC to the Taxes Act 1988, in the notionally inserted section 438(3A)—
a
for “subsection (6)” substitute “
subsections (6) and (6B)
”
;
b
after “UK distribution income of” insert “
, or foreign income dividends arising to,
”
;
c
after “taken into account” insert “
—(a)
”
; and
d
after “pension business” insert—
, or
b
where the company is charged to tax in respect of its life assurance business under Case I of Schedule D, in computing the profits of that business.
2
In paragraph 10(2) for “subsections (6) and (6A)” substitute “
subsections (6), (6A), (6D) and (6E)
”
.