SCHEDULES
SCHEDULE 18Part 3: consequential amendments
18Income Tax (Trading and Other Income) Act 2005
1
Section 531 (gains from contracts for life insurance etc: cases where income tax not treated as paid) is amended as follows.
2
In subsection (3)(a), for “tax exempt life or endowment business” substitute “exempt BLAGAB or eligible PHI business”.
3
In subsection (4), for the definition of “tax exempt life or endowment business” substitute—
“exempt BLAGAB or eligible PHI business” has the same meaning as in Part 3 of FA 2012 (see sections 154 and 155).