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Taxes Consolidation Act, 1997 |
(7) This section shall apply subject to paragraph 24 of schedule 32. |
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Taxes Consolidation Act, 1997 |
by attributing to policyholders or annuitants such fraction of that income as the fraction (in this subsection referred to as “the appropriate fraction”) of the profits of the company’s life business which, on a computation of such profits in accordance with the provisions applicable to Case I of Schedule D (whether or not the company is in fact charged to tax under that Case for the relevant accounting period or periods), would be excluded under section 710(1). |
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Taxes Consolidation Act, 1997 |
(b) Where the franked investment income referred to in paragraph (a) exceeds the profits of the company’s life business as computed in accordance with the provisions applicable to Case I of Schedule D other than section 710, the part of the franked investment income attributable to policy holders or annuitants shall be the aggregate of— |
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Taxes Consolidation Act, 1997 |
(a) Where the aggregate of the unrelieved profits and the shareholders’ part of the franked investment income exceeds the profits of the company in respect of its life business for the relevant accounting periods computed in accordance with the provisions of Case I of Schedule D, reduced by the aggregate of the amounts of— |
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Taxes Consolidation Act, 1997 |
(3) Notwithstanding sections 21(1) and 21A and subject to subsection (6)(b), corporation tax shall be charged in respect of the part specified in subsection (6)(a) of unrelieved profits of an accounting period of an assurance company from investments referable to life business,
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Taxes Consolidation Act, 1997 |
(3) Notwithstanding sections 21(1) and 21A and subject to subsection (6)(b), corporation tax shall be charged in respect of the part specified in subsection (6)(a) of unrelieved profits of an accounting period of an assurance company from investments referable to life business,
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Taxes Consolidation Act, 1997 |
(i) relevant trading charges on income under section 243A, |
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Taxes Consolidation Act, 1997 |
(ii) a relevant trading loss under section 396A, and |
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Taxes Consolidation Act, 1997 |
(iii) a loss or excess under section 420A, |
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Taxes Consolidation Act, 1997 |
by attributing to policyholders or annuitants such fraction of that income as the fraction (in this subsection referred to as “the appropriate fraction”) of the profits of the company’s life business which, on a computation of such profits in accordance with the provisions applicable to Case I of Schedule D (whether or not the company is in fact charged to tax under that Case for the relevant accounting period or periods), would be excluded under section 710(1). |
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Taxes Consolidation Act, 1997 |
(b) Where the franked investment income referred to in paragraph (a) exceeds the profits of the company’s life business as computed in accordance with the provisions applicable to Case I of Schedule D other than section 710, the part of the franked investment income attributable to policy holders or annuitants shall be the aggregate of— |
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Taxes Consolidation Act, 1997 |
to which the company is entitled for the relevant accounting periods, as extended by sections 710 and 714 (whether or not the company is charged to tax under that Case), the part referred to in subsection (3) shall be the lesser of— |
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Taxes Consolidation Act, 1997 |
to which the company is entitled for the relevant accounting periods, as extended by sections 710 and 714 (whether or not the company is charged to tax under that Case), the part referred to in subsection (3) shall be the lesser of— |
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| Links to Section 713 (from within TaxSource Total) | ||
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Taxes Consolidation Act, 1997 |
(c) is to be computed in accordance with section 713(3) or 738(2), the rate of corporation tax payable by the company on its income and chargeable gains for the relevant accounting period shall be treated as the standard rate of income tax, |
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Taxes Consolidation Act, 1997 |
24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713. |
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Taxes Consolidation Act, 1997 |
24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713. |
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Taxes Consolidation Act, 1997 |
24. Notwithstanding section 713, where chargeable gains and allowable losses accrued on disposals deemed by virtue of section 46A of the Corporation Tax Act, 1976, as applied by section 12(2)(a) of the Finance Act, 1993, to have been made by a life assurance company for the accounting period ended on the 31st day of December, 1992, the amount of any fraction of the difference between the aggregate of such chargeable gains and the aggregate of such allowable losses treated by virtue of section 720 (being the re-enactment of section 46B of the Corporation Tax Act, 1976) as a chargeable gain of any accounting period ending on or after the 6th day of April, 1997, shall be deducted from the amount of the unrelieved profits (within the meaning of section 713) of that accounting period for the purposes of computing the relief due under section 713. |
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Taxes Consolidation Act, 1997 |
(1) For the purposes of
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