SCHEDULES

SCHEDULE 17Part 2: transitional provision

PART 2Specific transitional provisions

Carry-forward of trading losses and excess management expenses

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1

Any unused losses arising to an insurance company in an accounting period ending before 1 January 2013 from gross roll-up business may be relieved in subsequent accounting periods in accordance with section 45 of CTA 2010 (carry forward of trade loss against subsequent trade profits) as if they were losses that had arisen from non-BLAGAB long-term business.

2

For this purpose a loss is “unused” so far as no relief has been given for it under—

a

section 436A of ICTA (including as applied by any provision of Part 2 of Schedule 7 to FA 2007), or

b

any other provision of the Corporation Tax Acts.