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”.