Commentary on Sections Overview Chapter 4: Special provision for life assurance business Section 1162: Meaning of “qualifying Chapter 4 expenditure”
2974.This section defines a company’s “qualifying Chapter 4 expenditure” as the amount of its qualifying land remediation expenditure reduced by any amount not attributable to basic life assurance and general annuity business (BLAGAB). It is based on paragraph 22 of Schedule 22 to FA 2001.
2975.Qualifying Chapter 4 expenditure may include expenditure of a capital nature.