Capital Allowances Act 2001

[F1255[F1Apportionment of allowances and charges]U.K.

(1)This section applies if the long-term business of the company consists of—

(a)basic life assurance and general annuity business, and

(b)non-BLAGAB long-term business.

(2)In that case—

(a)any allowance to which the company is entitled for a chargeable period in respect of a management asset, and

(b)any charge to which it is liable for a chargeable period in respect of a management asset,

must be apportioned between the businesses in accordance with Chapter 7 of Part 2 of FA 2012.]