{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-387",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-387.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/387",
  "kind": "section",
  "number": "387",
  "heading": "Treatment of deficit on basic life assurance and general annuity business: introduction",
  "text": "(1) Sections 388 to 391 apply for the purposes of the I - E rules instead of Chapters 16 and 16A (non-trading deficits) if a company has a non-trading deficit from its loan relationships for BLAGAB for any accounting period.\n(2) In those sections “the deficit” and “the deficit period” mean that deficit and that period respectively.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 387(1) inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 151"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 387(1) substituted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 132"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Pt. 5 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/387",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}