A Technical Consultative Document: 17 May 2006

H M Revenue and Customs published a consultation document today on the taxation of life assurance companies. The closing date for responses is 23 September 2006. A short explanation of what the consultation is about is also published. The consultation document is aimed at companies carrying on life assurance business, their advisers and the representative bodies representing insurance companies. It does not directly concern policy holders. The measures covered are largely technical in nature. In the 2006 Budget a consultation document was promised, in Spring, which would consider the simplification of the I minus E tax computation. The current consultation does not cover this issue which makes it less likely I minus E consultation will take place in Spring.