Point in time view as at 19/07/2007.
Finance Act 2007, Cross Heading: Capital Allowances Act 2001 (c. 2) is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
22U.K.CAA 2001 is amended as follows.
23U.K.In section 256(1) (different giving effect rules for different categories of business), for paragraph (b) substitute—
“(b)is charged to tax under the I minus E basis in respect of its life assurance business.”
24U.K.In section 257(2) (life assurance: supplementary), for paragraphs (a) and (b) substitute—
“(a)section 85A(3) of the Finance Act 1989 (excess adjusted Case I profits), or
(b)section 89 of that Act (policy holders' share of profits).”
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