Point in time view as at 16/11/2017.
There are currently no known outstanding effects for the Finance Act 2012, Section 131.
(1)This section applies if, under an insurance business transfer scheme, there is a transfer of non-BLAGAB long-term business (or any part of that business) from one insurance company to another.
(2)If, for the purposes of section 129, the transfer—
(a)is a relevant intra-group transfer, or
(b)is in connection with a demutualisation,
section 129 applies for the purpose of calculating for corporation tax purposes the profits of the non-BLAGAB long-term business of the transferor or transferee for any accounting period.
(3)If the conditions in section 130(1)(b) to (d) are met in the case of the transfer, section 130 applies for the purpose of calculating for corporation tax purposes the profits of the non-BLAGAB long-term business of the transferee for any accounting period.
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