Part 1 Amendments
Finance Act 2007 (2007 c 11) | Legislation

SCHEDULE 7 Insurance Business: Gross Roll-Up Business etc

Section 38

Part 1 Amendments

Taxes Management Act 1970 (c 9)

1

In section 98 of TMA 1970 (special returns etc), in the Table, omit the entries relating to section 333B of ICTA.

Income and Corporation Taxes Act 1988 (c 1)

2

ICTA is amended as follows.

3

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4

Omit section 333B (involvement of insurance companies with plans and accounts).

5

In section 403E (relief for overseas losses of UK resident companies), omit subsection (3).

6

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7

In section 431A(3)(a) (power to amend), omit “and Schedule 19AAâ€.

8

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9

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10

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11

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12

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13

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14

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15

In section 432AB (losses from Schedule A business or overseas property business), omit subsection (6).

16

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17

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18

Omit section 432D (section 432B apportionment: value of non-participating funds).

19

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20

In section 432F(2) (section 432B apportionment: supplementary provisions)—

(a)     omit “For each category of business in relation to which section 432E falls to be appliedâ€, and

(b)     omit “, after making any reduction required by section 432E(5),â€.

21

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22

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23

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