PART 2Insurance companies carrying on long-term business
CHAPTER 2Charge to tax on I - E basis etc
BLAGAB taxed on I - E basis
68Charge to tax on I - E profit
1
The charge to corporation tax applies to the I - E profit of the basic life assurance and general annuity business carried on by an insurance company.
2
For the meaning of “I - E profit”, see section 73.