255Apportionment of allowances and charges

1

This section applies if the long-term business of the company consists of—

a

basic life assurance and general annuity business, and

b

non-BLAGAB long-term business.

2

In that case—

a

any allowance to which the company is entitled for a chargeable period in respect of a management asset, and

b

any charge to which it is liable for a chargeable period in respect of a management asset,

must be apportioned between the businesses in accordance with Chapter 7 of Part 2 of FA 2012.