F1PART 2ASTRUCTURES AND BUILDINGS ALLOWANCES

CHAPTER 8GIVING EFFECT TO ALLOWANCES

Long-term business

270HHDifferent giving effect rules for BLAGAB

(1)

This section applies if a company—

(a)

carries on basic life assurance and general annuity business, and

(b)

is charged to tax in accordance with the I-E rules in respect of that business.

(2)

Any allowance under this Part to which the company is entitled in respect of the basic life assurance and general annuity business is to be given effect by treating it for the purposes of section 76 of FA 2012 as a deemed BLAGAB management expense for the chargeable period in question.