Commentary

D7.599 Receipts to be taken into account – general principles

Corporate tax
Corporate tax | Commentary

D7.599 Receipts to be taken into account – general principles

Corporate tax | Commentary

D7.599 Receipts to be taken into account – general principles

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.

A life insurance company's investment income from the assets of its long-term business and increases in the value of those assets, whether realised or not, are to be brought in as trading receipts to the extent, but only to the extent, that they are brought in to the company's revenue account for the purposes of the Prudential Sourcebook (Insurers)1. Decreases in the value

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