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Budget: Insurance Companies

Philip Lewis Director with KPMG in the UK gives a personal view of the Budget proposals for insurance companies
Life Insurance Changes
In recent years there have been many changes to the taxation of life companies — Finance Act 2007 for example contained four Schedules for life assurance. This year however perhaps the main headline is 'no change' to the taxation of life policy gains. Elsewhere the impact of a Pre-Budget Report measure on reinsurance is being made more targeted and proposals withdrawn from last year's Finance Bill have been revisited and are to be introduced in an improved version. As regards the significant amendments last year certain improvements and corrections have been...

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