Corporation Tax Act 2010

Finance Act 1989 U.K.

212 U.K. The Finance Act 1989 is amended as follows.

213 U.K. In section 85A(4) (excess adjusted life assurance trade profits) for “set off under section 393 of that Act” substitute “ relieved under section 45 of the Corporation Tax Act 2010 ”.

214 U.K. In section 88(4) (corporation tax: policy holders' fraction of profits) for the words from “section 13” to “that section)” substitute “ Part 3 of the Corporation Tax Act 2010 (companies with small profits) the augmented profits and the taxable total profits (within the meaning of that Part) ”.

215 U.K. Omit section 102 (surrender of tax refund etc within group).

216 U.K. In paragraph 16(2) of Schedule 5 (employee share ownership trusts)—

(a) in paragraph (a) for “same meaning as in section 417(3) and (4) of the Taxes Act 1988” substitute “ meaning given by section 448 of the Corporation Tax Act 2010 ”, and

(b) in paragraph (c) for “same meaning as in Part XI of the Taxes Act 1988” substitute “ meaning given by section 454 of the Corporation Tax Act 2010 ”.

217 U.K. In Schedule 12 (close companies) omit paragraphs 1, 3 and 4.