Insurance companies
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
Apportionment
Between different separate businesses
Income and gains
Apportionment rules I - E charge
Chargeable gains and allowable losses
Commercial method
Generally
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
Commencement
Deemed receipts or expenses, transitional provisions
Definitions
I - E basis
Individual savings account business, meaning
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
Generally
Index-linked gilt-edged securities
Long-term business fixed capital
Capital redemption business
Generally
Management expenses
Meaning
Self-assessment
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
De-mutualisation
Transfers of basic life assurance and general annuity business (BLAGAB)
Windfall pay-outs
Deductions, policy holders' tax
Deemed receipts or expenses, transitional provisions
Demutualisation
Deposit-takers
Derivative contracts
Dividends and other distributions
Generally
Trade investments in overseas companies, credit for underlying tax
Double taxation relief
Commercial allocation of relevant income to different categories of long-term business
Interpretation
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
Expenses
Business entertainment and gifts
Capital allowances
Controlled foreign companies
Franked investment income
Fronting reinsurance commissions
Generally
LAUTRO Indemnity Scheme, levies under
Old annuity contracts
Fijian, deductions from profits of unreported claims
Financial futures transactions
Financing-arrangement-funded transfers
Apportionments
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
First-year tax credits
Foreign branch exemption regime
Foreign exchange gains and losses
Generally
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
Generally
Gilt-edged securities
Generally
Gross payments of interest
Gross roll-up business
Generally
Transfers of business, losses
I - E tax basis (BLAGAB)
Acquisition expenses, meaning
Adjusted management expenses, calculation
Apportionment rules
Charge
Chargeable gains, calculation
Deduction of allowable losses from chargeable gains
Deemed I - E receipts
Definitions
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
Generally
Loan relationships, transfers of business
Fair value accounting
Generally
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
Generally
Investment assets
Management assets
Special leasing
Transfer of business
Management expenses, deductibility
Meaning
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
Generally
Overseas life assurance business
Determination of
Excluded business
Friendly societies, exempt business
Information
Meaning
Records, keeping
Sanctions
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
Meaning
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)
Generally
Meaning
Personal pension schemes
Plant and machinery allowances
Policies
Policy holders' share of I - E profits
Adjusted amount, meaning
Closing deferred policyholder tax balance, meaning
Deduction for current policyholder tax
Determination
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
Meaning
Transitional provisions
Provisional repayment regime
Qualifying interest in possession
Qualifying lender
Real estate investment trusts
Reinsurance
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
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
Demutalisation
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
Generally
Gross roll-up business losses
Groups of companies
Losses
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
Generally
Spreading of gains and losses
Venture capital investment partnership, chargeable gains
Apportionment in case of part disposal
Commencement
Cost of the single asset
Deemed disposal of single asset in case of distribution
Definitions
Disposal of asset giving rise to offshore income gain
Generally
Interest in relevant assets treated as single asset
Negligible value claim, exclusion
Transitional provisions
Venture capital investment partnership, meaning