SCHEDULES
SCHEDULE 1Small profits rate for non-ring fence profits
PART 3Consequential amendments
FA 2012
32
In section 102 of FA 2012 (policyholders' rate of tax on policyholders' share of I - E profit), at the end insert—
5
The policyholders' share of the I - E profit for an insurance company's accounting period is to be left out of account in determining for the purposes of Part 3A of CTA 2010 (companies with small profits)—
a
the augmented profits of the company for the accounting period, and
b
the taxable total profits of the company for the accounting period.