CTA2009/Part 16

In 1915 new legislation provided investment companies and certain life insurance companies with tax relief for management expenses. The aim of the legislation was to put investment companies into a broadly similar position to trading companies. The statutory provisions remained essentially unchanged until 2004.

Changes have affected the following broad areas:

To be eligible for relief for expenses of management, a company must be a ‘company with investment business’, as defined in CTA09/S1218B

The number of companies qualifying for relief for management expenses is now more extensive as the definition is less restrictive

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