Commentary

D7.5143 Policy holders' tax rate

Corporate tax
Corporate tax | Commentary

D7.5143 Policy holders' tax rate

Corporate tax | Commentary

The overall tax charge

D7.5143 Policy holders' tax rate

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 I-E system charges tax on the total profit of the life company without regard as to whether those profits arise on the income and gains of its BLAGAB or represent the shareholders' profit from writing gross roll up business.

It has long been a feature of life insurance taxation that profits accruing for the benefit of policy holders should bear tax at a

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