SCHEDULES

SCHEDULE 8Insurance companies: basis of taxation etc

Part 1Amendments

Income and Corporation Taxes Act 1988 (c. 1)

1

ICTA is amended as follows.

F12

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F13

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F14

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F15

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F16

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7

Omit section 439A (taxation of pure reinsurance business).

F28

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F39

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10

In section 755A(2) and (6)(a) (controlled foreign companies: apportionments to companies carrying on life assurance business), for “not charged to tax under Case I of Schedule D in respect of its profits from” substitute “ charged to tax under the I minus E basis in respect of ”.