Section 270HG | Apportionment of allowances ^F1

(1)This section applies if the long-term business of the company consists of—

(a)basic life assurance and general annuity business, and

(b)non-BLAGAB long-term business.

(2)Any allowance under this Part to which the company is entitled for a chargeable period in respect of a management asset must be apportioned between the businesses in accordance with Chapter 7 of Part 2 of FA 2012.