Commentary

D7.455A Transfers of assets to certain collective investment schemes

Corporate tax
Corporate tax | Commentary

D7.455A Transfers of assets to certain collective investment schemes

Corporate tax | Commentary

D7.455A Transfers of assets to certain collective investment schemes

For disposals on or after 8 June 2013, specific relief is available for insurance companies that transfer assets into an authorised contractual co-ownership scheme (D8.145) or certain offshore funds which are directly comparable to co-ownership funds in exchange for units in the scheme. No chargeable gain or allowable loss will arise on the transfer provided that the assets transferred and the units issued in exchange are held within the same category of business within the company's long-term insurance fund1.

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