Paragraph 18 General annuity business

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. para. 34 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 1
Sch. para. 32 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 9
Sch. para. 4 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 12
Sch. para. 36 revoked by Overseas Life Insurance Companies 2006 reg. 43(2) Sch. Pt. 2
Sch. para. 20 revoked by Corporation Tax Act 2010 Sch. 3 Pt. 1
Sch. para. 39 revoked by Corporation Tax Act 2010 Sch. 3 Pt. 1
Sch. para. 32 33 revoked by Corporation Tax Act 2010 Sch. 3 Pt. 2
Sch. para. 33 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 9

(1)

Section 437^f1 is amended as follows.

(2)

In subsection (1A) (new annuities to be brought into account by treating an amount as a sum disbursed as expenses of management) for the words from “as a sum” to the end of the subsection substitute—

“as expenses payable which fall to be brought into account for that period at Step 3 in section 76(7)”.

Annotations

Footnotes

f1: Section 437 has been amended. The relevant amendments are those made by paragraphs 5 and 18 of Schedule 7 to the Finance Act 1991, section 67(1) and (7) of the Finance Act 1997, and paragraph 6 of Schedule 33 to the Finance Act 2003.