Corporation Tax Act 2009 section 560

Introduction to Chapter

Section 560 introduces the chapter dealing with the corporation tax treatment of investment life insurance contracts held by companies that are not themselves life insurance companies, and explains how the chapter is structured.

• The chapter applies to investment life insurance contracts held by "relevant companies", meaning any company that is not a life insurance company or qualifying friendly society
• Sections 562 to 565 require these contracts to be treated as creditor loan relationships for corporation tax purposes under Part 5 of the Act
• Sections 566 to 569 contain transitional provisions for contracts that were already in place before the company's first accounting period beginning on or after 1 April 2008
• The definition of "investment life insurance contract" is provided separately in section 561