Related HMRC Manuals

29(1)  If–

(a)an insurance company carries on a business,

(b)amounts fall to be treated as receipts of the business as a result of section 26(4) (“deemed receipts”), and

(c)under an insurance business transfer scheme there is a transfer of the whole or part of the business to another insurance company within the charge to corporation tax,

the transferor and the transferee may jointly make an election for those deemed receipts to be allocated between them in accordance with the following provisions.

29(2)  If the transfer is a transfer of the whole of the business or substantially the whole of the business–

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.