Part 14Remediation of contaminated land

Chapter 4Special provision for life assurance business

General

1159Limitation on relief under Chapter 2

1

Chapter 2 does not apply to allow an insurance company—

a

any deduction under section 1147, or

b

any additional deduction under section 1149,

in calculating in accordance with the provisions mentioned in subsection (2) the profits for an accounting period which arise to the company from its life assurance business or from its gross roll-up business.

2

The provisions referred to in subsection (1) are those applicable for the purposes of section 35 (charge on trade profits).