{
  "url": "https://openlegislation.uk/finance-act-2012/section-141",
  "json_url": "https://openlegislation.uk/finance-act-2012/section-141.json",
  "legislation": "ukpga/2012/14",
  "legislation_title": "Finance Act 2012",
  "legislation_url": "https://openlegislation.uk/finance-act-2012",
  "path": "section/141",
  "kind": "section",
  "number": "141",
  "heading": "Index of defined terms, etc",
  "text": "(1) In this Part the following expressions are defined or otherwise explained by the provisions indicated—\nExpression\nWhere explained\nbasic life assurance and general annuity business (abbreviated to “BLAGAB”)\nsections 57 and 67(5)\nBLAGAB trade loss\nsection 136\nBLAGAB trade profit\nsection 136\nclosing\nsection 139(1)\ncontract of insurance\nsection 64\ncontract of long-term insurance\nsection 64\ndebiting or crediting an amount in accounts drawn up by a company\nsection 139(2) and (3)\nderivative contract\nsection 139(1)\nexcess BLAGAB expenses\nsection 73\nfair value\nsection 139(1)\nHMRC Commissioners\nsection 139(1)\nI - E profit\nsection 73\nthe I - E rules\nsection 70(1) and (2)\ninsurance business transfer scheme\nsection 139(1)\ninsurance company\nsection 65\ninsurance special purpose vehicle\nsection 139(1)\nliabilities\nsection 139(1)\nlife assurance business\nsection 56\nlong-term business\nsection 63(1)\nlong-term business fixed capital\nsection 137\nmatched (in case of assets matched to a BLAGAB liability or other long-term business liability)\nsection 138\nnon-BLAGAB long-term business\nsections 66 and 67\nnon-taxable distributions\nsection 94(4) and (5)\noverseas life insurance company\nsection 139(1)\nPHI business\nsection 63(2)\nre-insurance\nsection 139(1)\nUK life insurance company\nsection 139(1)\nwith-profits fund\nsection 139(1)\n(2) The expressions in the above table have the same meaning in any other provision of the Corporation Tax Acts that makes special provision in relation to—\n(a) insurance companies,\n(b) any category of life assurance business carried on by insurance companies, or\n(c) long-term business carried on by insurance companies.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/14/section/141",
    "retrieved_at": "2026-10-29T09:08:44.989153+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}