Modifications etc. (not altering text)
C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
Modifications etc. (not altering text)
C2Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 3 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)
C3 Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1
C4 Pt. 2 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 9(2), 21(2) (with s. 38(2)); S.I. 2004/2575, art. 2(1) , Sch. 1
C5 Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 4 para. 4 ; S.I. 2004/2575 , art. 2(1) , Sch. 1
C6Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19
C7Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35
C8Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37
C9Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24
Textual Amendments
F1Words in s. 254 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 96
(1)Subsection (2) applies if a company—
(a)carries on basic life assurance and general annuity business, and
[F3(b)is charged to tax [F4in accordance with the I - E rules] in respect of [F5that business].]
(2)If this subsection applies—
(a)any allowances (or parts of allowances) to which the company is entitled in respect of the basic life assurance and general annuity business are to be given effect by treating them [F6for the purposes of section 76 of FA 2012 as deemed BLAGAB management expenses for the chargeable period in question], and
(b)any charges (or parts of charges) to which the company is liable in respect of that business are to be given effect by treating the [F7company as receiving for the chargeable period in question an amount which is equal to the amount of the charges (or parts of charges) and to which the charge to corporation tax on income applies].
F8(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F9(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F2Word in s. 256 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 99(5)
F3S. 256(1)(b) substituted (with effect in accordance with s. 39(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 8 para. 23 (with Sch. 8 Pt. 2)
F4Words in s. 256(1)(b) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 99(2)(a)
F5Words in s. 256(1)(b) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 99(2)(b)
F6Words in s. 256(2)(a) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 99(3)
F7Words in s. 256(2)(b) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 492(2) (with Sch. 2 Pts. 1, 2)
F8S. 256(3) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 99(4)
F9S. 256(4) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 99(4)
Modifications etc. (not altering text)
C10S. 256 modified (1.1.2002) by S.I. 1997/473, reg. 53C (as inserted by S.I. 2001/3975, reg. 8)
C11S. 256 modified (with effect in accordance with reg. 1(2) of the commencing S.I.) by The Friendly Societies (Modification of the Corporation Tax Acts) Regulations 2005 (S.I. 2005/2014), regs. 1(1), 44