Commentary

D7.5178 Charge on retained assets

Corporate tax
Corporate tax | Commentary

D7.5178 Charge on retained assets

Corporate tax | Commentary

D7.5178 Charge on retained assets

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.

Following any insurance business transfer scheme there is a possible charge to tax on any assets (other than those held in trust for the transferee(s))1 which were previously assets of the transferor's long-term insurance fund that it retains following the transfer2. The amount charged to tax depends on how the company was charged to tax on its long-term insurance business in the accounting period ending with the day

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