Commentary

D7.501 Definition of life insurance

Corporate tax
Corporate tax | Commentary

D7.501 Definition of life insurance

Corporate tax | Commentary

Division D7.5     Life insurance companies: pre 1 January 2013

Reviewed by
Mark Downey, BA

Senior Tax Manager at a major listed UK insurance group

For updates affecting this Division please see Part D0 Updates

Introduction and general principles of life assurance taxation

D7.501 Definition of life insurance

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

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

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