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

CHAPTER 4 U.K. Apportionment rules for I - E charge

Allocation of chargeable gains and allowable losses on disposals of assets U.K.

99 Application of sections 100 and 101 U.K.

(1) Sections 100 and 101 apply for determining the chargeable gains or allowable losses that, for the purposes of Chapter 3, are to be regarded as referable to a company's basic life assurance and general annuity business whenever it disposes of assets held for the purposes of its long-term business (including cases where, as a result of Chapter 8 or any other provision of the Corporation Tax Acts, it is deemed to make a disposal).

(2) Expressions that are used in sections 100 and 101 and in TCGA 1992 have the same meaning in those sections as they have for the purposes of that Act.