SCHEDULES
SCHEDULE 18Part 3: consequential amendments
Income Tax (Trading and Other Income) Act 2005
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ITTOIA 2005 is amended as follows.
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(1)
Section 531 (gains from contracts for life insurance etc: cases where income tax not treated as paid) is amended as follows.
(2)
In subsection (3)(a), for “tax exempt life or endowment business” substitute “
exempt BLAGAB or eligible PHI business
”
.
(3)
In subsection (4), for the definition of “tax exempt life or endowment business” substitute—
““exempt BLAGAB or eligible PHI business” has the same meaning as in Part 3 of FA 2012 (see sections 154 and 155).”