Section 130 | Insurers receiving distributions etc ^F1

(1)This section applies for the purpose of calculating the trading profits of—

(a)insurance business other than business in relation to which section 111 of FA 2012 applies, or^F2

(b)any category of such business.

(2)A receipt that is exempt for the purposes of Part 9A (company distributions) is not brought into account in calculating the profits of the trade.