SCHEDULE 29Gains and losses of a company from intangible fixed assets
Part 6How credits and debits are given effect
Special provisions relating to insurance companies
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F1(1)
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(2)
Where for any accounting period the I minus E basis is applied in relation to life assurance business carried on by an insurance company, the effect of applying that basis is that credits or debits falling to be brought into account under this Schedule in respect of intangible fixed assets of the company referable to that business—
(a)
are not brought into account as mentioned in paragraph 31 (assets held for purposes of trade), but
(b)
subject to the following provisions of this paragraph, are instead brought into account under paragraph 34 as non-trading credits or, as the case may be, non-trading debits.
F2(3)
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F3(4)
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F3(5)
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F4(6)
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