Commentary on Sections Overview Chapter 4: Special provision for life assurance business Section 1161: Relief in respect of I minus E basis: enhanced expenses payable
2972.This section sets out the three conditions that companies with life assurance business must satisfy in order to claim relief for expenditure on the remediation of contaminated land. It also sets out the relief that is available (subsection (6)). It is based on paragraphs 22 and 23 of Schedule 22 to FA 2001.
2973.The relief takes the form of an enhancement in the expenses payable which the company may bring into account at Step 1 of section 76(7) of ICTA.