Finance Act 2012 (c. 14)

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

CHAPTER 6 U.K. Trade calculation rules applying to long-term business

113 Receipts or expenses relating to long-term business fixed capital U.K.

Receipts or expenses which arise from an asset forming part of the long-term business fixed capital of the company are to be left out of account in calculating the profits.