SCHEDULES

SCHEDULE 11 U.K. Loan relationships: special provisions for insurers

Modifications etc. (not altering text)

C1 Sch. 11 modified (retrospective to 1.1.1995) by S.I. 1997/473, reg. 53

Sch. 11 modified (13.10.1999) by S.I. 1997/473, reg. 53ZA (as inserted (13.10.1999) by S.I. 1999/2636, reg. 6)

Part I U.K. Insurance companies

Modifications etc. (not altering text)

C2 Sch. 11 Pt. I applied (with modifications) (29.4.1996) by 1994 c. 9, s.169, Sch. 18 para. 1 (as substituted (29.4.1996) by 1996 c. 8, s.104, Sch. 14 para. 79 (with saving in Pt. IV Ch. II))

Sch. 11 Pt. I applied (with modifications) (24.7.2002 with effect as mentioned in s. 83(3)(4) of the amending Act) by Finance Act 2002 (c. 23), s. 83(1), Sch. 26 Pt. 8 para. 42

Interpretation of Part I U.K.

6 U.K.In this Part of this Schedule—

• “basic life assurance and general annuity business” and “ [F1 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.

Textual Amendments

F1 Words in Sch. 11 para. 6 substituted (1.12.2001) by S.I. 2001/3629, art. 96(1)(b)(iv)

Modifications etc. (not altering text)

C3 Sch. 11 para. 6 modified (23.3.1999) by S.I. 1999/498, reg. 15(5)