SCHEDULES

SCHEDULE 7Insurance business: gross roll-up business etc

Part 1Amendments

Income and Corporation Taxes Act 1988 (c. 1)

40

In section 460(2) (registered friendly societies: exemption from tax in respect of life or endowment business)—

a

for “pension business” substitute “ gross roll-up business ”,

b

at the end of paragraph (ca), insert “ and ”, and

c

omit paragraph (cb).