SCHEDULES
SCHEDULE 8 Life assurance business
Part I General amendments
Classes of life assurance business
5
1
Section 440 of the Taxes Act 1988 is amended as follows.
2
In subsection (3) for “paragraphs (a) to (d)” substitute “
paragraphs (a) to (e)
”
.
3
For subsection (4) substitute—
4
The categories referred to in subsections (1) to (3) above are—
a
assets linked solely to pension business;
b
assets linked solely to life reinsurance business;
c
assets of the overseas life assurance fund;
d
assets linked solely to basic life assurance and general annuity business;
e
assets of the long term business fund not within any of the preceding paragraphs;
f
other assets.