The Insurance Companies (Capital Redemption Business) (Modification of the Corporation Tax Acts) Regulations 1999
Life insurance
Corporation tax
Income tax
Tax
Income
King's Printer of Acts of Parliament
2016-04-26
INCOME TAX
These Regulations provide that provisions of the Corporation Tax Acts relating to life assurance business of insurance companies (“the life assurance provisions”) shall have effect in relation to capital redemption business of those companies as if capital redemption business were life assurance business. The Regulations also provide that the life assurance provisions shall have effect as described above with the modifications set out in the Regulations. The Regulations have effect in relation to accounting periods ending on or after 1st July 1999, being the day appointed under section 199 of the Finance Act 1994 for the purposes of corporation tax self-assessment.
Modification of section 82 of the Finance Act 198910
1
Section 82 of the Finance Act 19898 shall be modified as follows.
2
After subsection (8) there shall be added the following subsection–
9
In this section and in sections 83, 83AA9, 85, 86, 88, 88A10 and 89, and in paragraph 1A(1) of Schedule 8A11, “life assurance business” has the same meaning as in Chapter I of Part XII of the Taxes Act 1988.