Commentary

D7.475 Rates of tax applying

Corporate tax
Corporate tax | Commentary

D7.475 Rates of tax applying

Corporate tax | Commentary

I-E Profit—Rates of tax applying

D7.475 Rates of tax applying

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 charge to tax on the I-E profit of the company is made without regard as to whether that profit arises on the income and gains accruing on behalf of its policyholders or represents the shareholders' profit from writing that business. It has however long been a feature of life insurance taxation that profits accruing for the benefit of policyholders should bear tax

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