SCHEDULES

SCHEDULE 7Insurance business: gross roll-up business etc

Part 1Amendments

Capital Allowances Act 2001 (c. 2)

70

1

Section 256 (different giving effect rules for different categories of business) is amended as follows.

2

In subsection (3), for paragraphs (a) to (c) substitute “ section 436A of ICTA (gross roll-up business) ”.

3

In subsection (4)—

a

for “profit” substitute “ profits ”,

b

in paragraph (a), for “any particular category of business” substitute “ gross roll-up business ” and for “that category of business” substitute “ its gross roll-up business ”, and

c

in paragraph (b), for “any particular category of business” substitute “ gross roll-up business ” and for “that category of business” substitute “ its gross roll-up business ”.