INSURANCE COMPANY WITH BLAGAB CONSISTING WHOLLY OF PROTECTION BUSINESS

Related HMRC Manuals

21(1)  This paragraph applies if–

(a)in its first accounting period to which this Part applies an insurance company carries on business which, under the old law, would have been basic life assurance and general annuity business,

(b)the business in question consists wholly of the effecting or carrying out of contracts of long-term insurance in relation to which the condition in section 62(2)(a) is met, and

(c)some or all of the contracts are made before 1 January 2013.

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