Related Commentary  Related HMRC Manuals

108(1)  For the purposes of section 107 “the closing deferred policyholder tax balance for a period of account” means so much of the closing amount shown, in accordance with generally accepted accounting practice, in the accounts of the company for that period in respect of deferred tax as is wholly attributable to policyholder tax.

108(2)  Provision forming part of the closing amount is “wholly attributable to policyholder tax” if–

(a)the provision is made in respect of a BLAGAB matter (see subsection (3)), and

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