The Insurance Companies (Amendment to Section 129 of, and Schedule 17 to, the Finance Act 2012) Regulations, SI 2015/1959, which comes into force on 31 December 2015, amends the rules in FA 2012 for intra-group transfers of long-term life insurance business, to ensure that such transfers remain t
The Insurance Companies (Amendment to Section 129 of, and Schedule 17 to, the Finance Act 2012) Regulations, SI 2015/1959, which comes into force on 31 December 2015, amends the rules in FA 2012 for intra-group transfers of long-term life insurance business, to ensure that such transfers remain tax-neutral. The regulations specify that any tax attributes transfer with the part of the business that gave rise to them. HMRC consulted between July and September 2015 on a draft of these regulations.
Further guidance is awaited from HMRC to provide more clarity on other aspects of the insurance business transfer rules.
The Insurance Companies (Amendment to Section 129 of, and Schedule 17 to, the Finance Act 2012) Regulations, SI 2015/1959, which comes into force on 31 December 2015, amends the rules in FA 2012 for intra-group transfers of long-term life insurance business, to ensure that such transfers remain t
The Insurance Companies (Amendment to Section 129 of, and Schedule 17 to, the Finance Act 2012) Regulations, SI 2015/1959, which comes into force on 31 December 2015, amends the rules in FA 2012 for intra-group transfers of long-term life insurance business, to ensure that such transfers remain tax-neutral. The regulations specify that any tax attributes transfer with the part of the business that gave rise to them. HMRC consulted between July and September 2015 on a draft of these regulations.
Further guidance is awaited from HMRC to provide more clarity on other aspects of the insurance business transfer rules.
