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Insurance Tax Changes in the Finance Bill 2003

 
Simon Burke Senior Tax Consultant Mark Downey Senior Tax Consultant and Nigel Walters Director all in Ernst & Young's Insurance Tax group write on the Finance Bill 2003
 
Schedule 33 of the Finance Bill 2003 introduces significant changes to the way that life companies are taxed. Schedules 34 and 35 introduce changes to the taxation of life policies. Before embarking on a review of the principal changes we set out below a short reminder of the basic scheme of taxation of long-term insurance companies. All legislative references are to the Finance Bill unless stated otherwise.
Taxation Of Long-Term Insurance Companies
 
Companies writing long-term insurance business are subject to corporation tax...

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