Taxation (International and Other Provisions) Act 2010 section 102

Interpreting sections 99 to 101 for life assurance or gross roll-up business

Section 102 provides interpretation rules for how sections 99 to 101 apply specifically in the context of life assurance or gross roll-up business.

• This section provides special interpretation guidance for applying the rules in sections 99 to 101 where a company carries on life assurance or gross roll-up business.
• It ensures that the computational and allocation rules in those sections are adapted appropriately for the particular characteristics of life assurance and gross roll-up business.
• The provision is derived from earlier rules found in sections 804C(13) and (14), 804D and 804E of the Income and Corporation Taxes Act 1988 (ICTA).
• The section was subsequently amended by Finance Act 2012 Schedule 16 paragraph 239 to reflect wider reforms to the taxation of life insurance companies.