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Finance Act 1998
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Changes over time for: Paragraph 40
Version Superseded: 22/03/2001
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- 01/04/1998- Amendment
- 28/07/2000
Point in time - 22/03/2001- Amendment
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40(1)Section 434E of the Taxes Act 1988 (capital allowances: investment assets held for purposes of life assurance business) is amended as follows.
(2)For subsection (1) substitute—
“(1)In this section “investment asset” means an asset which—
(a)is held by a company for the purposes of its life assurance business otherwise than for the management of that business, and
(b)is not let in the course of a Schedule A business or overseas property business.”.
(3)Omit subsection (3).
(4)In subsection (6) for “section 145(3) shall not apply" substitute “ neither section 145(3) nor section 403(1) shall apply ”.
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