Commentary

D7.5109 Non-profit funds—apportionment of income for accounting periods beginning before 1 January 2007

Corporate tax
Corporate tax | Commentary

D7.5109 Non-profit funds—apportionment of income for accounting periods beginning before 1 January 2007

Corporate tax | Commentary

D7.5109 Non-profit funds—apportionment of income for accounting periods beginning before 1 January 2007

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

The first step in apportioning the income of non-profit funds is to treat income linked to a particular category of business as directly referable to that category so excluding it from the amount to be apportioned1. Next any income attributable to assets of the overseas life assurance fund (or UK land linked to overseas life assurance business) is allocated to overseas life

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