SCHEDULES

SCHEDULE 14Corporation tax treatment of company distributions

Part 2Other amendments

FA 1989

17

1

Section 89 (life assurance: policy holders' share of profits) is amended as follows.

2

In subsection (2)(b), for “distributions received from companies resident in the United Kingdom” substitute “ non-taxable distributions received ”.

3

In subsection (7), after the definition of “Case I profits” insert—

“non-taxable distribution” has the same meaning as in section 85A.