Separate rules, not dissimilar to those covered at ¶715-725, but differing in certain respects, apply to the calculation of tax credit for a qualifying loss arising in connection with land which is a management asset of an insurance company taxed on the ‘I minus E’ basis. Where, however, the income from the asset is part of a UK property business of an insurance company, the following provisions apply, originally adapted from those described at ¶715-725 with reference to other companies. See also ¶715-875 for where a claim has been artificially inflated.

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