C3

C2C6C5C4C8C9C10C11C12Part 2 Plant and machinery allowances

Annotations:
Modifications etc. (not altering text)
C2

Pt. 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. 34) (as amended (20.2.2003) by S.I. 2003/333, art. 14)

C6

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

C5

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

C4

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

C8

Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19

C9

Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35

C10

Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37

C11

Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24

C12

Pt. 2 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 73(7)-(11) (with s. 73(6))

Chapter 19 Giving effect to allowances and charges

F3Long-term business

Annotations:
Amendments (Textual)
F3

Words in s. 254 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 96

C1C7256 Different giving effect rules for F4BLAGAB

1

Subsection (2) applies if a company—

a

carries on basic life assurance and general annuity business, and

F1b

is charged to tax F6in accordance with the I - E rules in respect of F7that 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 F5for 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 F2company 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.

F83

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F94

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .