Section 1297 | Basic life assurance and general annuity business

(1)This section applies if the employer is a company in relation to which the I - E rules apply.

(2)Repealed

(3)Repealed

(4)For the purpose of calculating the adjusted BLAGAB management expenses of the company for the purposes of section 73 of FA 2012, the employee benefit contributions are treated as expenses debited, in accordance with generally accepted accounting practice, in the accounts drawn up by the company for that period.

(5)For the purposes of sections 1290 to 1296—

(a)any reference to a deduction for employee benefit contributions is to be read as a reference to an amount constituting ordinary BLAGAB management expenses of the company for the purposes of section 76 of FA 2012, and

(b)references to deduction are to be read in that light.