http://www.legislation.gov.uk/id/ukpga/2012/14

PART 2Insurance companies carrying on long-term business

CHAPTER 2Charge to tax on I - E basis etc

PHI only business

72Companies carrying on only PHI business

Nothing in—

(a)

this Part, or

(b)

any other provision of the Corporation Tax Acts that makes special provision in relation to, or by reference to, long-term business carried on by insurance companies,

is to apply in relation to a company which carries on long-term business which consists wholly of PHI business.