Policy paper

Corporation Tax: long term insurance business

This only applies to life insurance companies that carry on life assurance and other long-term business.

• From: HM Revenue & Customs
• Published: 9 December 2015

Documents

Corporation Tax: long-term insurance business

HTML

Draft clause 34

PDF, 38.6 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email [email protected]. Please tell us what format you need. It will help us if you say what assistive technology you use.

Draft explanatory notes clause 34

PDF, 63.2 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email [email protected]. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

This legislation simplifies how life insurance companies use debits from intangible fixed assets and trading losses from their basic life assurance and general annuity business (BLAGAB). It also ensures that the deemed income which arises if BLAGAB trade profits exceed BLAGAB investment return is fully brought into charge.

Published 9 December 2015