Commentary

D7.416 Overseas life assurance business ('OLAB')

Corporate tax
Corporate tax | Commentary

D7.416 Overseas life assurance business ('OLAB')

Corporate tax | Commentary

D7.416 Overseas life assurance business ('OLAB')

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.

There have always been various reliefs available to life insurers for business written with overseas policyholders. One of the principal reasons for this was to exclude OLAB income and gains from the I-E regime because there was the potential for conflict between the taxing rights of the UK and the policyholder's home country; this policy objective historically being achieved by excluding OLAB from the I-E system and instituting

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial