Version Superseded: 19/07/2007
Point in time view as at 06/04/2007.
There are currently no known outstanding effects for the Finance Act 2004, Paragraph 4.
4(1)In section 444AD of the Taxes Act 1988 (modification of section 83(2B) of the Finance Act 1989 (c. 26)), in subsection (4) (amount to which section 83(2B) is not to apply to be difference between value of assets of long-term insurance fund of transferee and element of line 15 figure representing transferor’s long-term insurance fund), for paragraph (a) substitute—U.K.
“(a)the fair value of such of the assets of the long-term insurance fund of the transferee immediately after the transfer as were assets of the transferor’s long-term insurance fund immediately before the transfer, is greater than”.
(2)Sub-paragraph (1) has effect in relation to insurance business transfer schemes taking place on or after 17th March 2004.
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