Commentary

D7.5146 Establishing the policy holders' share

Corporate tax
Corporate tax | Commentary

D7.5146 Establishing the policy holders' share

Corporate tax | Commentary

D7.5146 Establishing the policy holders' share

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 policy holders' share of the relevant profits calculated as in D7.5144 is normally derived by deducting an amount representing the shareholders' share of those profits, the balance belonging to the policy holders. However if there are no life assurance trade profits accruing to the company from its life insurance business the whole of the relevant profits belongs to policy holders1.

The precise mechanism for calculating the policy

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