- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
16(1)Omit the following provisions (which are obsolete or of limited value).
(2)In the Table in section 98 of TMA 1970, the words “or 441A(3)” in both columns.
(3)In ICTA—
(a)in section 76(7), in Step 3, the entries relating to section 587B(8)(b)(i) of ICTA and paragraph 23(2) of Schedule 13 to FA 2002,
(b)section 440(2A) and (2B) (transfer of assets: loan relationships and derivative contracts),
(c)section 442(4) (special rule for insurance companies ceasing to be resident in United Kingdom),
(d)section 443 (life policies carrying rights not in money),
(e)section 444 (life policies issued before 5th August 1965),
(f)section 587B(8) (gifts to charities etc: modifications for insurance companies), and
(g)in section 807A (disposals and acquisitions of company loan relationships with or without interest), subsections (4) and (5)(b) and, in subsection (6)(a), “or an insurance credit”.
(4)In FA 1989—
(a)section 84(2), (3), (5) and (6) (transitional provisions etc),
(b)in section 85(3) (commencement of provisions for charge of certain BLAGAB receipts), “(including the 1990 component period)”,
(c)in section 86 (spreading of relief for acquisition expenses), subsections (3) and (3A) and, in subsection (10), “(including the 1990 component period)”, and
(d)section 87 (management expenses).
(5)In FA 1996—
(a)paragraph 1(1) and (2) of Schedule 11 (loan relationships: I minus E basis),
(b)paragraph 4(6) of that Schedule (non-trading deficits: transitional provision),
(c)paragraph 5 of that Schedule (elections for accrual basis), and
(d)paragraph 1(3) of Schedule 15 (apportionment of loan relationship credits and debits: transitional provision).
(6)Paragraph 18 of Schedule 12 to FA 1997 (leasing arrangements: meaning of “accounting purposes” for insurance companies).
(7)Paragraph 86 of Schedule 18 to FA 1998 (non-annual actuarial investigations).
(8)Paragraph 4 of Schedule 6 to FA 1999 (reverse premiums etc).
(9)Section 87(3) and (4) of FA 2001 (tax credits etc).
(10)In Schedule 13 to FA 2002 (vaccine research), paragraphs 22, 23 and 25(3), and, in paragraph 27, the definition of “life assurance business”.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: