Section 270HG Apportionment of allowancesF1C1
United Kingdom
(1)
This section applies if the long-term business of the company consists of—
(a)
basic life assurance and general annuity business, and
(b)
non-BLAGAB long-term business.
(2)
Any allowance under this Part to which the company is entitled for a chargeable period in respect of a management asset must be apportioned between the businesses in accordance with Chapter 7 of Part 2 of FA 2012.
Annotations
Textual amendments
- F1
Pt. 2A inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2
Modifications
- C1
S. 270HG applied (with modifications) by The Friendly Societies (Modifications of the Tax Acts) Regulations 2012 (S.I. 2012/3008), reg. 4A (as inserted (5.7.2019) by S.I. 2019/1087, regs. 1, 11)