– see also Friendly societies

Accounting periods

Beginning on or after 1 January 2013 (commencement date)

Straddling 1 January 2013

Accounting periods straddling 1 January 2012

Advance corporation tax, unrelieved surplus


Between different separate businesses

Income and gains

Apportionment rules I - E charge

Chargeable gains and allowable losses

Commercial method


Authorised investment funds

Basic life and general annuity business (BLAGAB)

Loan relationships

Basic life assurance and general annuity business (BLAGAB)

Accounting periods beginning on or after 1 January 2013 (commencement date)

Accounting periods straddling 1 January 2013

Apportionment rules for I - E charge

Calculation of trade profit or loss

Charge to tax on I - E basis

Child trust fund business, meaning


Deemed receipts or expenses, transitional provisions


I - E basis

Individual savings account business, meaning


Overseas life assurance business, meaning

Pension business, meaning

Policyholders' rate of tax

Protection business, meaning

Separate businesses where other long-term business

Share pooling rules

Trade loss relief

Trading apportionment rules

Transfer of assets

Transfers of business

Transitional provisions

Treasury power to make amendments, orders and regulations

Basic life assurance and general annuity business (BLAGAB), deduction of unused losses in making Schedule D, Case I computation of profits

Bed and breakfasting

Calculation of trade profit or loss

Allocations to policyholders

Dividends and other distributions


Index-linked gilt-edged securities

Long-term business fixed capital

Capital redemption business


Management expenses



Captive insurance companies insuring extended warranties for customers

Change of accounting basis, mark to market

Charge to tax

Basic life assurance and general annuity business

Trade profits other than life assurance business

Chargeable gains

Bed and breakfasting

Disposal and acquisition of securities

Ringfencing of losses

Transfers of business

Unrelieved general annuity losses, transitional provisions

Charges on income, method of deduction where policy holder entitled to part of profits

Child trust funds

Composite insurance companies

Computation of profit (not I - E computation)

Contract of insurance, meaning

Contract of long-term insurance, meaning

Controlled foreign companies

Conversion of securities held as circulating capital


Transfers of basic life assurance and general annuity business (BLAGAB)

Windfall pay-outs

Deductions, policy holders' tax

Deemed receipts or expenses, transitional provisions



Derivative contracts

Dividends and other distributions


Trade investments in overseas companies, credit for underlying tax

Double taxation relief

Commercial allocation of relevant income to different categories of long-term business


More than one category of business, restriction of credit

Overseas branches, restriction of credit

Setting expenses/other deductions against items of income

Double taxation relief, Case I profit/pension business

EEA firms

Employee benefit contributions

Employers' associations

Equalisation reserves

Abolition of relief

Double taxation relief

Election to accelerate receipts

One sixth to be treated as receipt in each six calendar years

Transfer of whole or part of business

Exemption for interest on FOTRA securities, computation of profits


Business entertainment and gifts

Capital allowances

Controlled foreign companies

Franked investment income

Fronting reinsurance commissions


LAUTRO Indemnity Scheme, levies under

Old annuity contracts

Fijian, deductions from profits of unreported claims

Financial futures transactions

Financing-arrangement-funded transfers


Charge in relevant period of account

Commencement of transfers

Deduction in subsequent periods of account

Distributions received by insurance companies

Non-profit funds

Overseas life assurance business

Foreign branch exemption regime

Foreign exchange gains and losses


Loan relationships, meaning

Foreign permanent establishment

France, restriction on freedom of establishment

Friendly societies

Friendly societies, transfers to

General insurance business

Accounting in foreign currencies and relevant discount rates

Controlled foreign companies

General insurance reserves

Intra-group transfers of investments

Non-annual accounting

Short-term business

Single group treatment

Technical provisions or reserves, appropriate amount


Gilt-edged securities

– see also Gilt-edged securities


Gross payments of interest

Gross roll-up business


Transfers of business, losses

I - E tax basis (BLAGAB)

Acquisition expenses, meaning

Adjusted management expenses, calculation

Apportionment rules


Chargeable gains, calculation

Deduction of allowable losses from chargeable gains

Deemed I - E receipts


Derivative contracts

General annuity business

Income, meaning

Intangible fixed assets

Loan relationships

Losses from property businesses

Minimum profits charge

Miscellaneous income and losses

Ordinary management expenses

Overseas life insurance companies FOTRA profits

Precedence of charge

Property businesses

Risks re-insured

Rules for calculating

Spreading acquisition expenses

Immediate needs annuities, exemption from tax

Implications of Solvency II for

Individual savings accounts (ISAs)

Industrial assurance business

Insurance business transfer scheme, meaning

Insurance contracts

Intangible fixed assets

Interest and annuities

Intra-group transfers of investments

Life assurance business, meaning

Life policies

Linked assets

Lloyd's underwriters

Loan relationships

Loan relationships, deficit on basic life assurance and general annuity business

Available profits, meaning

Carry forward of surplus deficit to next accounting period

Claim to carry back deficit

Deficit set off against income and gains of deficit period


Loan relationships, transfers of business

Fair value accounting


Notional carrying value

Transferor party to avoidance

Long term business fixed capital

Long term business, meaning

Loss relief (BLAGAB trade losses)

Carry forward, pre-1 April 2017

General rule

Group relief

Policyholders' share of I - E profit, no relief against

Restrictions, non-trading deficit

Transitional provisions

Machinery and plant allowances

Apportionment of allowances and charges

Different categories of business


Investment assets

Management assets

Special leasing

Transfer of business

Management expenses, deductibility


Memorandum Form 40 in respect of with-profits part of fund, separate revenue account required to be prepared

Net investment yield

New Zealand, interest on overdue premiums

Non-basic life assurance and general annuity business (BLAGAB)

Allowable losses used to reduce I - E profit

Charge to tax on profits of

Separate business, treated as

Transfers of long-term business

Non-resident companies, UK representatives

Non-residents, tax representatives

Non-statutory arrangements for groups

Offshore funds

Controlled foreign companies, avoidance of double charges


Overseas life assurance business

Determination of

Excluded business

Friendly societies, exempt business



Records, keeping


Specified event, meaning

Tax credits

Territories in which policy holders reside

Overseas life insurance companies

Participating funds, apportionment of receipts

Pension business

Double taxation relief

Entitlement to tax credits

Excessive provisional repayments, interest

Exemption from tax

Manufactured payments


Notional repayment, meaning

Pay and file

Provisional repayments

Reduced entitlement during transitional period

Tax credits

Transitional provisions

Permanent establishment, separate enterprise principle

Permanent health insurance business (PHI)



Personal pension schemes


Policy holders' share of I - E profits

Adjusted amount, meaning

Closing deferred policyholder tax balance, meaning

Deduction for current policyholder tax


Expenses or receipts for deferred policyholder tax

Non-taxable distributions, meaning

Rate of tax

Shareholders' share, meaning

Policy holders' share of profits

Calculation of profits

Change in business of company

Profits derived from contract of reinsurance

Protection business


Transitional provisions

Provisional repayment regime

Qualifying interest in possession

Qualifying lender

Real estate investment trusts


Pure reinsurers

Reinsurance business

Amounts of investment return which are less than zero

Ascertainment of investment return, prescribed dates of payment

Basic life assurance and general annuity business, investment returns

Calculation of investment return in final accounting period

Calculation of investment return in first accounting period

Calculation of investment return in second and subsequent periods

Calculation of investment return in sole accounting period

Exclusion from meaning of life reinsurance business

Exclusion of certain reinsurance arrangements

Exclusion of policy and contract

Prescribed percentage rates of return

Transfers effected by novation or insurance business transfer schemes

Remediation of contaminated land

Company responsible for contamination

I minus E basis

Qualifying expenditure

Tax credits, entitlement and payment

Remediation of contaminated/derelict land

Research and development

Sale and lease-back of land, restriction of deductions for expenses

Aggregation and apportionment

Associated persons

Carry-forward of parts of payments

Commercial rent, comparison with payments other than rent

Commercial rent, comparison with rent under lease

Deduction not to exceed commercial rent

Exclusion of service charges

Land outside the UK

Lease, meaning

Payments made for later periods

Rent, meaning

Securitisation companies

Share pooling rules

Overseas life insurance companies

UK life insurance companies

Singapore, investments suitable in Malaysia

Solvency regime

Substantial shareholdings exemption

Tax representatives

Tax-exempt business

Trade unions

– see Trade unions

Transfer from capital reserve, receipts taken into account

Transfer of assets

Groups of companies

Overseas life insurance companies

Transitional provisions

UK life insurance companies

Transfers of basic life assurance and general annuity business (BLAGAB)

Anti-avoidance provisions

Clearance procedure


Intra-group transfers

Meaning of group of companies

Non-BLAGAB long-term business

Non-group companies, present value of in-force business

Transferee, relief for spread acquisition expenses

Transfers of business

Chargeable gains


Gross roll-up business losses

Groups of companies


Non-residents, deemed disposals

Non-technical account

Old annuity contracts

Receipts brought into account

Reinsurance business

Transfer of unused losses

Transitional provisions

Transitional relief for old general annuity contracts

Unit trusts

Deemed disposals


Spreading of gains and losses

Venture capital investment partnership, chargeable gains

Apportionment in case of part disposal


Cost of the single asset

Deemed disposal of single asset in case of distribution


Disposal of asset giving rise to offshore income gain


Interest in relevant assets treated as single asset

Negligible value claim, exclusion

Transitional provisions

Venture capital investment partnership, meaning