Regulation 16 Modifications of the Income and Corporation Taxes Act

In section 444AL^f1 (interpretation of sections 444AF to 444AK), in subsection (3), in a case where the transferor is an EEA firm or a Treaty firm—

(a)

for “insurance company” substitute “overseas life insurance company where the company is an EEA firm or a Treaty firm”, and

(b)

for “surplus on valuation as shown in the periodical return” substitute “balance on the technical account – long-term business, so far as it relates to life assurance business carried on in the United Kingdom through a permanent establishment”.

Annotations

Footnotes

f1: Section 444AL was inserted by section 86 of, and paragraph 5 of Schedule 11 to, the Finance Act 2006.