1ALife assurance policies and capital redemption policies

1

The credits and debits to be brought into account for the purposes of this Chapter shall not include any credits or debits relating to—

a

a policy of life assurance; or

b

a capital redemption policy, within the meaning of Chapter 2 of Part 13 of the Taxes Act 1988.

2

Nothing in section 80(5) of this Act prevents an amount which, by virtue of sub-paragraph (1) above, is not brought into account for the purposes of this Chapter from being brought into account for the purposes of corporation tax apart from this Chapter.