SCHEDULE 14 Company Gains from Investment Life Insurance Contracts: Consequential Amendments etc
Finance Act 2008 (2008 c 9) | Legislation

SCHEDULE 14 Company Gains from Investment Life Insurance Contracts: Consequential Amendments etc

Section 36

ICTA

1

ICTA is amended as follows.

2

.Ìý.Ìý.

3

Omit sections 539 to 551A (corporation tax in respect of gains arising in connection with life policies etc).

4

(1)     Section 552 (information: duty of insurers) is amended as follows.

(2)     In subsection (3), omit—

(a)     the words from “(or†to “year)â€, and

(b)     “, and the corresponding financial year,â€.

(3)     In subsection (5)—

(a)     in paragraph (b)—

(i)     omit “section 546C(7)(a) of this Act andâ€, and

(ii)     for “the year and the insurance year end†substitute “the insurance year endsâ€, and

(b)     in paragraph (c), omit—

(i)     “this Chapter andâ€,

(ii)     in sub-paragraph (i), “the amount or value of any relevant capital payments andâ€,

(iii)     in sub-paragraph (iii), the words from the beginning to “656 andâ€, and

(iv)     in sub-paragraph (v), the words from the beginning to “year andâ€.

(4)     In subsection (6)—

(a)     in paragraph (b)—

(i)     omit “section 546C(7)(a) of this Act (andâ€,

(ii)     omit the closing bracket after “2005â€, and

(iii)     for “the year (and the insurance year)†substitute “the insurance yearâ€,

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