[F1130 Insurers receiving distributions etc U.K.
This section has no associated Explanatory Notes
(1)This section applies for the purpose of calculating the trading profits of—
(a)insurance business other than [F2business in relation to which section 111 of FA 2012 applies], or
(b)any category of such business.
(2)A receipt that is exempt for the purposes of Part 9A (company distributions) is not brought into account in calculating the profits of the trade.]
Textual Amendments
F1S. 130 and cross-heading substituted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by Finance Act 2009 (c. 10), Sch. 14 para. 22
F2Words in s. 130(1)(a) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 144