Finance Act 2012 (c. 14)

SCHEDULES

SCHEDULE 16 U.K. Part 2: minor and consequential amendments

PART 3 U.K. Amendments of other Acts

Corporation Tax Act 2009 U.K.

189 U.K. In section 1021 (relief if employee or other person obtains option to acquire shares: how relief is given), for subsection (4) substitute—

“(4) If—

(a) the employing company is a company in relation to which the I - E rules apply, and

(b) the relief is referable, in accordance with Chapter 4 of Part 2 of FA 2012, to the employing company's basic life assurance and general annuity business,

the amount of relief is treated for the purposes of section 76 of that Act as ordinary BLAGAB management expenses of the company referable to the accounting period.”