# Finance Act 2009, Paragraph 2


(1) In section 82 of FA 1989 (calculation of profits), after subsection (2) insert—
“(2A) But amounts are not allowed as such a deduction if they—
(a) are allocated to holders of policies under which they are eligible to participate in surplus,
(b) are of a capital nature, and
(c) are not funded from amounts brought into account as part of total income in line 19 of the revenue account prepared for the purposes of Chapter 9 of the Prudential Sourcebook (Insurers) in respect of the whole of the company's long-term business.
(2B) For the purposes of subsection (2A) above payments made in connection with the reattribution of inherited estate are to be regarded as being of a capital nature.”
(2) The amendment made by sub-paragraph (1) has effect in relation to amounts allocated on or after 22 April 2009 to holders of policies under which they are eligible to participate in surplus.

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Source: https://www.legislation.gov.uk/ukpga/2009/10/schedule/23/paragraph/2 (the official version)
Page: https://openlegislation.uk/finance-act-2009/schedule-23/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.