Corporation Tax Act 2009 section 1160

Provision in respect of I minus E basis

Section 1160 establishes when the provisions of Chapter 4 apply, specifically where an insurance company's basic life assurance and general annuity business is taxed under the I minus E basis.

• This section acts as a gateway provision, setting out the conditions under which Chapter 4 applies
• It applies only to insurance companies that are charged to corporation tax under the I minus E rules
• The relevant business must be the company's basic life assurance and general annuity business
• The test is applied on an accounting period by accounting period basis