SCHEDULES
SCHEDULE 7Insurance business: gross roll-up business etc
Part 1Amendments
Income and Corporation Taxes Act 1988 (c. 1)
23
1
Section 434A (computation of losses and limitation on relief) is amended as follows.
2
In subsection (2)(a)—
a
omit “the aggregate of”, and
b
omit sub-paragraph (iii).
3
In subsection (2)(b), for the words following sub-paragraph (ii) substitute— “
any loss for that period under section 436A shall be reduced (but not below nil) by the total of the amounts set off as mentioned in sub-paragraphs (i) and (ii) above.
”