Finance Act 2012 (c. 14)

PART 2 U.K. Insurance companies carrying on long-term business

CHAPTER 4 U.K. Apportionment rules for I - E charge

Introduction U.K.

97 Application of Chapter U.K.

(1) This Chapter applies in the case of an insurance company that carries on—

(a) basic life assurance and general annuity business, and

(b) other business.

(2) This Chapter contains rules for determining for the purposes of Chapter 3—

(a) the credits or other income, the debits or other losses and the expenses that are referable to the company's basic life assurance and general annuity business, and

(b) the chargeable gains and allowable losses accruing on the disposal of assets (or parts of assets) that are referable to the company's basic life assurance and general annuity business.

Modifications etc. (not altering text)

C1 S. 97 modified (31.12.2012) by The Friendly Societies (Modifications of the Tax Acts) Regulations 2012 (S.I. 2012/3008), regs. 1(1), 10 (with regs. 1(2), 2)