GIM7370 - Equalisation reserves: the tax rules: groups

By concession, members of a group are permitted, in some cases, to produce a single consolidated FSA return, although shareholder accounts will be prepared on an individual company basis. In these cases, it will be for the company and its auditors to determine the equalisation reserve for each individual company.

Groups of insurance companies were also able to enter into an arrangement with the Revenue under which they prepared a single tax computation for the group in respect of non-life business.

This arrangement was withdrawn in relation to accounting periods beginning on or after 1 January 2000.