Commentary

D7.401 Definition of life insurance

Corporate tax
Corporate tax | Commentary

D7.401 Definition of life insurance

Corporate tax | Commentary

Division D7.4     Life insurance companies—post 1 January 2013

Written by
Mark Downey, BA

Head of Tax for the UK insurance business of a major listed UK insurance group

For updates affecting this Division please see Part D0 Updates

Introduction and general principles of taxation of long-term insurance business

D7.401 Definition of life insurance

The rules in this division apply for accounting periods beginning on or after 1 January 2013. For accounting periods beginning before 1 January 2013 see Division D7.5.

The complexities of life insurance company taxation stem from the nature of the contract of insurance, whereby the insurer, in return for a

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