Section 130 Insurers receiving distributions etcF1
United Kingdom
(1)
This section applies for the purpose of calculating the trading profits of—
(a)
insurance business other than F2business in relation to which section 111 of FA 2012 applies, or
(b)
any category of such business.
(2)
A receipt that is exempt for the purposes of Part 9A (company distributions) is not brought into account in calculating the profits of the trade.
Annotations
Textual amendments
- F1
S. 130 and cross-heading substituted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by Finance Act 2009 (c. 10), Sch. 14 para. 22
- F2
Words in s. 130(1)(a) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 144
Notes on Part 3
Modifications
- C1
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)