Life Assurance Consultation
Formal consultation
In May 2006, HM Revenue & Customs published a consultation document on the taxation of life assurance companies. The consultation document is aimed at companies carrying on life assurance business, their advisers and the representative bodies representing insurance companies. It does not directly concern policy holders.
The closing date for responses was 23 September 2006. A short explanation of what the consultation is about is also published.
Reference to this consultation can be found under “Lapsed HMRC consultations”
Meetings held with representatives of the insurance industry during the formal consultation
The following meetings (accessible by clicking on the dates below) were held between HMRC and the ABI during the consultation period to 23 September 2006 to discuss the following areas or strands, which are referred to in the consultation document.
Apportionment
Amalgamation of categories of business
Group issues and losses
Transfers of business
The Crown option
Friendly societies
Post consultation
Although the formal consultation period has come to an end, there is further work to do arising from the discussions held during the consultation period.
Discussions are continuing with the ABI on the areas highlighted above, and minutes of these meetings will be published on this website as and when appropriate.
Post consultation meetings held with representatives of the insurance industry
The following meeting was held between HMRC and the ABI post 23 September 2006.
