Philip Lewis Director with KPMG in the UK gives a personal view of the Budget and Finance Bill proposals for insurance companies
The consultation process of insurance tax introduced in the 2006 Budget and launched last May in a technical consultation document has led to a significant amount of legislation announced in this year's Budget.
The Finance Bill includes:
● four Schedules on life assurance company taxation;
● one Schedule on technical provisions made by general insurers;
● one Schedule on transfers of business by friendly societies; and
● various further clauses of relevance to insurers.
All in all that is about 63 pages of new legislation — although a...
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Philip Lewis Director with KPMG in the UK gives a personal view of the Budget and Finance Bill proposals for insurance companies
The consultation process of insurance tax introduced in the 2006 Budget and launched last May in a technical consultation document has led to a significant amount of legislation announced in this year's Budget.
The Finance Bill includes:
● four Schedules on life assurance company taxation;
● one Schedule on technical provisions made by general insurers;
● one Schedule on transfers of business by friendly societies; and
● various further clauses of relevance to insurers.
All in all that is about 63 pages of new legislation — although a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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