SCHEDULES
SCHEDULE 7Insurance companies etc
Transfers of business
F31
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F12
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F13
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F14
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F55
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Chargeable gains
6
1
In section 210A(10) of the Taxation of Chargeable Gains Act 1992 (c. 12)
(ring-fencing of losses: policy holders' share of chargeable gains or losses), in paragraph (b)
(case where policy holders' share of relevant profits does not exceed BLAGAB profits), for “of the company for the accounting period bears to those relevant profits” substitute “
for the accounting period bears to those BLAGAB profits
”
.
2
Sub-paragraph (1) has effect in relation to accounting periods beginning on or after 17th March 2004.
Double taxation
F47
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Meaning of “referable”
F68
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
F21
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F72
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3
In the following provisions of the Taxation of Chargeable Gains Act 1992 (c. 12)—
a
the definitions of “BLAGAB allowable losses” and “BLAGAB chargeable gains” in section 210A(13) (ring-fencing of losses),
b
section 211ZA(10) (transfers of business: transfer of unused losses), and
c
section 213(1A)(a)
(spreading of gains and losses under section 212), after “referable” insert “
(in accordance with section 432A of the Taxes Act)
”
.