SCHEDULES

SCHEDULE 16Part 2: minor and consequential amendments

PART 3Amendments of other Acts

86Taxation of Chargeable Gains Act 1992

1

Section 213 (spreading of gains and losses under section 212) is amended as follows.

2

In subsection (1A), for “(in accordance with section 432A of the Taxes Act)” substitute “, in accordance with Chapter 4 of Part 2 of the Finance Act 2012,”.

3

After subsection (4) insert—

4ZA

Subsection (4) applies in relation to an overseas life insurance company with the insertion after “long-term business” of the words “in the United Kingdom through a permanent establishment”.