Statutory Instruments
2008 No. 2625
Corporation Tax
The Insurance Companies (Overseas Life Assurance Business) (Excluded Business) (Amendment) Regulations 2008
Made
6th October 2008
Laid before the House of Commons
6th October 2008
Coming into force
27th October 2008
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 431D of the Income and Corporation Taxes Act 1988( 1 ).
Citation and commencement
1. These Regulations may be cited as the Insurance Companies (Overseas Life Assurance Business) (Excluded Business) (Amendment) Regulations 2008 and shall come into force on 27 th October 2008.
Amendments to the Insurance Companies (Overseas Life Assurance Business) (Excluded Business) Regulations 2000
2.The Insurance Companies (Overseas Life Assurance Business) (Excluded Business) Regulations 2000( 2 ) are amended as follows.
Amendment of Regulation 2
3. In paragraph (b) in the definition of “beneficiaries” in paragraph (1) of regulation 2 (interpretation) for “section 660A” substitute “sections 624 to 627 of the Income Tax (Trading and Other Income) Act 2005( 3 )”.
Amendment of Regulation 8
4. In paragraph (2) of regulation 8 (trustees residing in the United Kingdom) for “Chapter II of Part XIII of the Income and Corporation Taxes Act 1988” substitute “Chapter 9 of Part 4 of the Income Tax (Trading and Other Income) Act 2005”.
Mike Eland
3rd October 2008
Dave Hartnett
6th October 2008
Two of the Commissioners for Her Majesty’s Revenue and Customs
1988 c. 1 ; section 431D was inserted by paragraph 2 of Schedule 8 to the Finance Act 1995 (c. 4) and was amended by section 108 of the Finance Act 2000 (c. 17) , paragraph 176 of Schedule 1 to the Income Tax (Trading and Other Income) Act 2005 (c. 5) , paragraph 9 of Schedule 7 to the Finance Act 2007 (c. 11) and paragraph 26 of Schedule 17 to the Finance Act 2008 (c. 8) .
S.I. 2000/2089 , to which there are amendments not relevant to these Regulations.
Sections 624, 625, 626 and 627 were amended by S.I. 2005/3229 , and sections 624 and 627 were amended by paragraphs 553 and 554 respectively of Schedule 1 to the Income Taxes Act 2007 (c. 3) .