Corporation Tax Act 2009 (c. 4)

Part 7 U.K. Derivative contracts

Modifications etc. (not altering text)

C1 Pt. 7 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)

C2 Pt. 7 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)

Chapter 6 U.K. Special kinds of company

Insurance companies U.K.

634 Insurance companies U.K.

[F1 (1)] For the purposes of this Part, activities carried on by a company in the course of—

(a) any mutual insurance or other mutual business which is not life assurance business, F2 ...

F2 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

are treated as not constituting the whole or any part of a trade.

[F3 (2) In the case of activities carried on by a company in the course of any basic life assurance and general annuity business, provision corresponding to that made by subsection (1) is made by section 88 of FA 2012 for the purpose of applying the I - E rules.]

Textual Amendments

F1 S. 634(1): s. 634 renumbered as s. 634(1) (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 168(2)

F2 S. 634(1)(b) and the word immediately preceding it omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 168(3)

F3 S. 634(2) inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 168(4)