Commentary on Sections Overview Chapter 4: Special provision for life assurance business Section 1159: Limitation on relief under Chapter 2
2970.This section provides that the deductions allowed in Chapter 2 do not apply to the calculation of the profits of a company’s life assurance business where the calculation is made in accordance with the provisions of Part 3 (trading income). It is based on paragraph 20 of Schedule 22 to FA 2001.