Philip Lewis of KPMG in the UK gives his view of the impact of the Pre-Budget Report on insurance companies
This year's Pre-Budget Report was comparatively quiet on insurance-specific measures. In part this may be allowing the system to settle after several years of significant changes; in part it may recognise that significant changes will be needed for 2012 when a major overhaul of the regulatory regime for insurers will have knock-on effects on their taxation.
Life Assurance-Specific Measures
Life assurance trade profits provisions/apportionments
Life assurance businesses are (normally) taxed on an investment income and gains less expenses approach (the I-E basis) but are also required to compute profits on...
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Philip Lewis of KPMG in the UK gives his view of the impact of the Pre-Budget Report on insurance companies
This year's Pre-Budget Report was comparatively quiet on insurance-specific measures. In part this may be allowing the system to settle after several years of significant changes; in part it may recognise that significant changes will be needed for 2012 when a major overhaul of the regulatory regime for insurers will have knock-on effects on their taxation.
Life Assurance-Specific Measures
Life assurance trade profits provisions/apportionments
Life assurance businesses are (normally) taxed on an investment income and gains less expenses approach (the I-E basis) but are also required to compute profits on...
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:
