Commentary

D7.5111 Apportionment of investment return in with-profits funds

Corporate tax
Corporate tax | Commentary

D7.5111 Apportionment of investment return in with-profits funds

Corporate tax | Commentary

D7.5111 Apportionment of investment return in with-profits funds

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.

While the apportionment methods set out in D7.5108, D7.5109 and 5110 deal adequately with non-profit business, they work less well for with-profits business in which the investment return recognised in the revenue account is driven by the value of bonuses declared. The legislation in ICTA 1988, s 432E therefore proceeds on the basis of calculating the investment return by means of a comparison of two

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