55 Overview
Finance Act 2012 (2012 c 14) | Legislation

Part 2 Insurance Companies Carrying on Long-term Business

Chapter 1
Introductory

Outline of provisions of Part

55 Ìý°¿±¹±ð°ù±¹¾±±ð·É

(1)     This Part makes special provision for corporation tax purposes in relation to life assurance business and other long-term business carried on by insurance companies.

(2)     Chapter 1 explains some of the key concepts for the purposes of this Part, including the concept of basic life assurance and general annuity business (abbreviated to “BLAGABâ€).

(3)     Chapter 2—

(a)     provides for the profits of BLAGAB to be subject

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