20[F1In computing in accordance with the provisions of the Taxes Act 1988 applicable to Case I of Schedule D the profits for any accounting period arising to an insurance company from its life assurance business, or from its gross roll-up business,] no deduction for capital expenditure under paragraph 1 and no land remediation relief under paragraph 12 shall be allowable.
Textual Amendments
F1Words in Sch. 22 para. 20 substituted (with effect in accordance with s. 38(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 7 para. 72 (with Sch. 7 Pt. 2)