[2010] EWCA Civ 394.

Court of Appeal (Civil Division).

Sir Anthony May P (QBD), Rix and Moses L JJ.

Judgment delivered 16 April 2010.

Corporation tax – Life assurance company – Basic life assurance and general annuity business – Sch. D, Case 1 – Trading losses – Notional computation of profits – Whether trading losses brought forward from prior accounting periods – Taxpayer’s appeal allowed – HMRC’s contingent appeal dismissed – Income and Corporation Taxes Act 1988, s. 393 – Finance Act 1989, s. 89(1), (7) – Finance Act 2003, Sch. 33, para. 7(2), (3).

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