A company is entitled to a life assurance company tax credit for an accounting period if it has a qualifying life assurance business loss in the period (see section 1165).

For the company to obtain a life assurance company tax credit in respect of all or part of the qualifying life assurance business loss it must make a claim.

The amount of a life assurance company tax credit to which the company is entitled is determined in accordance with section 1166.

See also section 1168, which restricts the carry forward of expenses payable where a company claims a life assurance company tax credit.