Part II Income Tax, Corporation Tax and Capital Gains Tax

Chapter I General

Insurance companies and friendly societies

49 Friendly societies: increased tax exemption.

F11

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F12

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F13

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F14

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5

In paragraph 3(8)(b)(ii) of Schedule 15 to that Act (amount of premiums to be disregarded in determining whether a policy meets conditions for it to be a qualifying policy), after the word “premiums” there shall be inserted the words “ or, where those premiums are payable otherwise than annually, an amount equal to 10 per cent. of those premiums if that is greater ”.