Regulation 11 Amendment to the Friendly Societies (Modifications of the Tax Acts) Regulations 2012

In the Friendly Societies (Modifications of the Tax Acts) Regulations 2012^f1, after regulation 4 insert—

“4A.

Section 270HG of CAA 2001 (structures and buildings allowances: apportionment of allowances) applies as if for subsection (1) there were substituted—

“(1)

This section applies if the long-term business of the company consists of two or more of—

(a)

basic life assurance and general annuity business,

(b)

non-BLAGAB long-term business, or

(c)

tax exempt business.

(1A)

In subsection (1)(c) “tax exempt business” has the same meaning as in section 57A of FA 2012^f2 (section 57: meaning of “tax exempt business”).”.”.