Finance Act 1989 (c. 26)

Part II U.K. Income Tax, Corporation Tax and Capital Gains Tax

CHAPTER I U.K. General

Life assurance U.K.

F1 82 Calculation of profits: bonuses etc U.K.

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Textual Amendments

F1 S. 82 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 49

F2 82A Calculation of profits: policy holders' tax U.K.

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Textual Amendments

F2 S. 82A omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 50

F3 82B Unappropriated surplus on valuation U.K.

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Textual Amendments

F3 S. 82B omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 51

F4 82C Relevant financial reinsurance contracts U.K.

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Textual Amendments

F4 S. 82C repealed (with effect in accordance with Sch. 9 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 9 para. 9, Sch. 27 Pt. 2(9); S.I. 2008/379, art. 2

F5 82D. Treatment of profits: life assurance — adjustment consequent on change in Insurance Prudential Sourcebook U.K.

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Textual Amendments

F5 Ss. 82D-82F omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 52

F5 82E. Section 82D: treatment of transferors under insurance business transfer schemes U.K.

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Textual Amendments

F5 Ss. 82D-82F omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 52

F5 82F. Section 82D: treatment of transferees under insurance business transfer schemes U.K.

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Textual Amendments

F5 Ss. 82D-82F omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 52

F7 83 Receipts to be [F6 taken] into account. U.K.

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Textual Amendments

F6 Word in s. 83 heading substituted (with effect in accordance with Sch. 33 para. 2(12) of the amending Act) by Finance Act 2003 (c. 14), Sch. 33 para. 2(10)

F7 S. 83 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 53

F8 83XA Structural assets U.K.

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Textual Amendments

F8 S. 83XA omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 54

F9 83YA Changes in value of assets brought into account: non-profit companies U.K.

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Textual Amendments

F9 S. 83YA omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 55

F10 83YB Meaning of “appropriate line 51 amount” for purposes of s.83YA U.K.

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Textual Amendments

F10 S. 83YB omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 55

F11 83YC FAFTS: charge in relevant period of account U.K.

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Textual Amendments

F11 Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F11 83YD FAFTS: deduction in subsequent periods of account U.K.

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Textual Amendments

F11 Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F11 83YE Regulations: apportionment and redefining “financial reinsurance arrangement” U.K.

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Textual Amendments

F11 Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F11 83YF Financial reinsurance arrangements: further provision U.K.

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Textual Amendments

F11 Ss. 83YC-83YF omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 56

F12 83ZA Contingent loans U.K.

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Textual Amendments

F12 S. 83ZA omitted (with effect in accordance with Sch. 17 para. 4(1) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 17 para. 1(4) (with Sch. 17 para. 4(4))

F13 83A Meaning of “brought into account”. U.K.

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Textual Amendments

F13 S. 83A omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 57

F14 83B Changes in recognised accounts: attribution of amounts carried forward under s.432F of Taxes Act 1988 U.K.

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Textual Amendments

F14 S. 83B omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 58

F15 83AA Amounts added to long term insurance fund of a company in excess of that company’s loss. U.K.

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Textual Amendments

F15 S. 83AA repealed (with effect in accordance with Sch. 9 para. 17(2)(3) of the amending Act) by Finance Act 2007 (c. 11), Sch. 9 para. 11(2)(b), Sch. 27 Pt. 2(9); S.I. 2008/379, art. 2

F16 83AB Treatment of surplus where there is a subsequent transfer of business from the company etc. U.K.

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Textual Amendments

F16 S. 83AB repealed (with effect in accordance with Sch. 9 para. 17(2)(3) of the amending Act) by Finance Act 2007 (c. 11), Sch. 9 para. 11(2)(c), Sch. 27 Pt. 2(9); S.I. 2008/379, art. 2

84 Interpretation of sections 85 to 89 and further provisions about insurance companies. U.K.

F17 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F18 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F19 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F20 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F21 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17 S. 84(1) repealed (10.7.2003) by Finance Act 2003 (c. 14), Sch. 43 Pt. 3(12)

F18 S. 84(2) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 10 para. 16(4)(a), Sch. 27 Pt. 2(10)

F19 S. 84(3) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 10 para. 16(4)(a), Sch. 27 Pt. 2(10)

F20 S. 84(4) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(a)(i)

F21 S. 84(5) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 10 para. 16(4)(a), Sch. 27 Pt. 2(10)

F22 S. 84(6) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 10 para. 16(4)(a), Sch. 27 Pt. 2(10)

F23 85 Charge of certain receipts of basic life assurance business. U.K.

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Textual Amendments

F23 S. 85 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 59

F25 85A Excess adjusted [F24 life assurance trade] profits U.K.

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Textual Amendments

F24 Words in s. 85A heading 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. 349(8) (with Sch. 2 Pts. 1, 2)

F25 S. 85A omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 60

F26 86 Spreading of relief for acquisition expenses. U.K.

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Textual Amendments

F26 S. 86 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 61

F27 87 Management expenses. U.K.

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Textual Amendments

F27 S. 87 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 10 para. 16(4)(d), Sch. 27 Pt. 2(10)

F29 88 Corporation tax: policy holders’ [F28 share] of profits. U.K.

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Textual Amendments

F28 Word in s. 88 heading substituted (with effect in accordance with Sch. 10 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 15(3)

F29 S. 88 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 62

F30 88A Lower corporation tax rate on certain insurance company profits. U.K.

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Textual Amendments

F30 S. 88A repealed (with effect in accordance with Sch. 33 para. 13(11) of the amending Act) by Finance Act 2003 (c. 14), Sch. 33 para. 13(3), Sch. 43 Pt. 3(12)

F31 89 Policy holders’ share of profits. U.K.

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Textual Amendments

F31 S. 89 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 63

F32 89A Modification of sections 82 to 83A, 88 and 89 in relation to overseas life insurance companies. U.K.

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Textual Amendments

F32 S. 89A repealed (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), reg. 1, Sch. Pt. 1

F33 90 Life policies etc. held by companies. U.K.

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Textual Amendments

F33 S. 90 omitted (with effect in accordance with Sch. 14 para. 18 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 14 para. 17(a)

F34 90A Interpretation U.K.

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Textual Amendments

F34 S. 90A repealed (with effect in accordance with Sch. 10 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 14(3)(c), Sch. 27 Pt. 2(10)