SCHEDULE EXPENSES OF COMPANIES WITH INVESTMENT BUSINESS AND INSURANCE COMPANIES

Capital Allowances Act 2001

Related definitions

53.  For section 18 of the Capital Allowances Act 2001 substitute—

“Managing the investments of a company with investment business

18.— (1) For the purposes of this Part, managing the investments of a company with investment business consists of pursuing those purposes expenditure on which would be treated as expenses of management within section 75 of ICTA.

(2) In this Part “company with investment business” has the meaning given by section 130 of ICTA.”.