Paragraph 7
(1)
The amendments made by paragraphs 5 and 6 have effect in relation to periods of account beginning on or after 1 January 2009 and ending on or after 22 April 2009.
(2)
But an insurance company may, in its company tax return for—
(a)
an accounting period beginning on or after 1 January 2008 but before 1 January 2009, or
(b)
an accounting period beginning on or after 1 January 2009 and ending before 22 April 2009,
elect that the amendments made by paragraphs 5 and 6 have effect in relation to that accounting period.