6In this Part of this Schedule—
“basic life assurance and general annuity business” and “long term business” have the same meanings as in Chapter I of Part XII of the Taxes Act 1988;
“capital redemption business” means any capital redemption business, within the meaning of section 458 of that Act, which is business to which that section applies;
“the I minus E basis” means the basis commonly so called (under which a company carrying on life assurance business or capital redemption business is charged to tax on that business otherwise than under Case I of Schedule D);
“life assurance business” includes any annuity business within the meaning of Chapter I of Part XII of that Act.
Modifications etc. (not altering text)
C1Sch. 11 para. 6 modified (23.3.1999) by S.I. 1999/498, reg. 15(5)