SCHEDULES

SCHEDULE 16Part 2: minor and consequential amendments

PART 3Amendments of other Acts

150Corporation Tax Act 2009

1

Section 386 (overview of Chapter 10 of Part 5 (insurance companies)) is amended as follows.

2

In subsection (2)—

a

in paragraph (a), after “apply” insert “for the purposes of the I - E rules” and at the end insert “and”, and

b

omit paragraph (c) (together with the “and” before it).

3

In subsection (3)—

a

in paragraph (a), omit “or of BLAGAB”,

b

in paragraph (a), after “trade)” insert “and section 88 of FA 2012 (equivalent rule for activities carried on in the course of BLAGAB)”, and

c

in paragraph (f), for “as expenses of insurance companies at Step 1 of section 76(7) of ICTA” substitute “as ordinary BLAGAB management expenses”.