Paragraph 179

For section 901 substitute—

“Effect of application of the I - E basis: non-trading amounts

901

In the application of the I - E rules in relation to a company's basic life assurance and general annuity business, the provisions of this Part need to be read with section 88 of FA 2012 (which provides for the activities carried on by the company in the course of that business not to constitute the whole or any part of a trade or of a property business).”