2003 No. 1861
The Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) (Amendment) Regulations 2003
Made
Laid before the House of Commons
Coming into force
The Treasury, in exercise of the powers conferred upon them by section 32 of the Finance Act 19981, hereby make the following Regulations:
Citation, commencement and effect1
1
These Regulations may be cited as the Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) (Amendment) Regulations 2003 and shall come into force on 7th August 2003.
2
These Regulations have effect in relation to distributions made on or after 9th April 2003 in accounting periods beginning before (as well as accounting periods ending on or after) 7th August 2003.
Amendments to regulation 22 of the Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) Regulations 19992
1
Regulation 22 of the Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) Regulations 19992 (life assurance companies) is amended as follows.
2
In paragraph (1) for “The policy holders' share of the franked investment income held in connection with a company's” substitute “So much of the policy holders' share of the franked investment income from investments of a company’s long-term insurance fund as is referable to its”.
3
In paragraph (3) after ““life assurance business”” insert “and “long-term insurance fund””.
(This note is not part of the Regulations)