Part 20General calculation rules
C1C2Chapter 1Restriction of deductions
Pt. 20 Ch. 1 applied (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 92(4) (with s. 147, Sch. 17)
Employee benefit contributions
1297F2Basic life assurance and general annuity business
1
This section applies if the employer is a company in relation to which F6the I - E rules apply.
F72
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F33
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4
For the F5purpose of calculating the adjusted BLAGAB management expenses of the company for the purposes of section 73 of FA 2012, the employee benefit contributions are treated as expenses F1debited, in accordance with generally accepted accounting practice, in the accounts drawn up by the company for that period.
5
For the purposes of sections 1290 to 1296—
a
any reference to a deduction for employee benefit contributions is to be read as a reference to F4an amount constituting ordinary BLAGAB management expenses of the company for the purposes of section 76 of FA 2012, and
b
references to deduction are to be read in that light.
Pt. 20 Ch. 1 applied by 1989 c. 26, s. 85(2BA) (as substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 348(4) (with Sch. 2 Pts. 1, 2))