Life Company Taxation

Below is a selection of our most recent updates on this subject.

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Important Potential Changes That Could Affect Term Assurance Rates

Chris Russell of Russell Harman asks where not for protection rates?
Monday, August 09, 2010

Capital Losses

In current tumbling markets, life funds have a brief edge on performance.
Thursday, February 26, 2009

A Quick Guide To The Current State Of Play

Life company tax is at the crux of one of the arguments about 18% CGT.
Wednesday, January 23, 2008

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.
Wednesday, May 17, 2006

HMRC Makes Concession To Life Assurers On Unintended Consequences Of Tackling Specific Tax Avoidance

HMRC last night conceded its proposals to address use of the book-value election by non-profit companies will be amended as it would 'have an impact beyond tackling the specific tax avoidance identified, which HMRC has always wished to avoid'.
Friday, November 04, 2005

Schedule 9 Finance Bill 2005 On Insurance Companies Shelved For Time Being

The Government has shelved (possibly temporarily) controversial provisions relating to the taxation of life insurance companies.
Monday, April 18, 2005

Life Company Taxation - Latest Developments

Life company taxation. Pre-Budget Report. Blocking of certain loopholes. Income derived from surplus capital more harshly taxed.
Tuesday, December 21, 2004

Overseas Life Insurance Companies Regulations Made To Determine The Amount Of Profits For Corporation Tax Purposes

These regulations modify and update existing corporation tax legislation applying to overseas life insurance companies (OLICs). They are consequent to changes made to the method of determining for the purposes of corporation tax the amount of profits attributable to a permanent establishment in the UK of a company that is not resident in the UK.
Thursday, October 21, 2004

Analysis Of Life Office Taxation Proposals

The Inland Revenue's Christmas present to life offices. Measures to improve the effectiveness and fairness of the tax rules for life offices.
Friday, January 31, 2003

Inland Revenue - Changes To The Taxation Of Life Assurance Companies

This bulletin gives details of proposed changes to the legislation. Draft clauses will be published by the Inland Revenue "as soon as possible".
Monday, December 30, 2002

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