Article 8 Amendment of the Finance Act 1989

(1)

Amend section 83^f1 (receipts to be taken into account in computing profits of a life assurance company chargeable to Case I of Schedule D) as follows.

(2)

In subsection (2)—

(a)

at the end of paragraph (c) omit “or”;

(b)

at the end of paragraph (d) add—

“; or

(e)

business transfers-in.”.

(3)

In subsection (2A) for “paragraphs (a) to (d)” substitute “paragraphs (a) to (e)”.

(4)

In subsection (2B) after “total expenditure” insert “, or as a business transfer-out, ”.

Annotations

Footnotes

f1: Section 83 was substituted by paragraph 16(1) of Schedule 8 to the Finance Act 1995 and subsequently amended The relevant amendments are those made by paragraph 2 of Schedule 33 to the Finance Act 2003.