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Changes over time for: Paragraph 28


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 01/04/2009
Status:
Point in time view as at 21/07/2008.
Changes to legislation:
Finance Act 2008, Paragraph 28 is up to date with all changes known to be in force on or before 04 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.

Changes to Legislation
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28(1)In section 53 of ICTA (farming and market gardening and managing land on commercial basis for profit), insert at the end—U.K.
“(5)The preceding provisions of this section do not apply in relation to—
(a)farming or market gardening by an insurance company on land which is an asset of the company's long-term insurance fund, or
(b)the occupation by an insurance company of land which is such an asset for a purpose other than farming or market gardening.”
(2)In section 55 of ICTA (mines, quarries etc), insert at the end—
“(3)Subsection (1) does not apply in relation to any concern carried on by an insurance company on land which is an asset of the company's long-term insurance fund.”
(3)In section 432AB(5) (losses from Schedule A business etc), for “section 392A or 392B” substitute “ sections 392A and 503, or section 392B, ”.
(4)The amendments made by this paragraph have effect in relation to accounting periods beginning on or after 1 January 2008.
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