
Print Options
PrintThe Whole
Act
PrintThe Whole
Part
PrintThe Whole
Chapter
PrintThe Whole
Cross Heading
PrintThis
Section
only
Changes over time for: Section 127


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 16/11/2017.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2012, Section 127.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
127No relief against policyholders' share of I - E profitU.K.
This section has no associated Explanatory Notes
(1)This section applies in the case of an insurance company carrying on basic life assurance and general annuity business.
(2)None of the following reliefs are to be given against the policyholders' share of any I - E profit of the company for any accounting period (as determined for the purposes of section 102).
(3)The reliefs in question are—
[(za)relief under section 124B (relief of excess carried-forward BLAGAB trade losses against total profits),]
(a)relief under section 37 of CTA 2010 (including as applied by section 123),
(b)relief under Chapter 2 or 4 of Part 4 of CTA 2010 (loss relief),
(c)relief under Part 5 of CTA 2010 (group relief) (including as applied by section 125),
[(ca)relief under Chapter 3 of Part 5A of CTA 2010 (group relief for carried-forward losses),]
(d)relief in respect of any qualifying charitable donation,
(e)relief in respect of any amount representing a non-trading deficit on the company's loan relationships calculated otherwise than by reference to debits and credits referable, in accordance with Chapter 4, to its basic life assurance and general annuity business.
(4)If the company's basic life assurance and general annuity business is mutual business, subsection (3)(d) does not apply.
Back to top