Commentary on Sections Overview Chapter 4: Special provision for life assurance business Section 1168: Restriction on carrying forward expenses payable where tax credit claimed
2981.This section ensures that the amount of any qualifying life assurance business loss that is surrendered in return for the payment of a life assurance company tax credit is not available for carry forward. It is the life assurance company equivalent of section 1158. It is based on paragraph 27 of Schedule 22 to FA 2001.