The Insurance Companies (Taxation of Re-insurance Business) Regulations 2018

1Citation and commencement

2Interpretation

3Application to new re-insurance arrangements

4Section 57 of the Act and excluded business

5Excluded business: group companies in the UK

6Excluded business: overseas companies

7Section 90 of the Act – tax treatment of the cedant - prescribed arrangements

8Excluded and non-excluded business

9Cedant and re-insurer being group companies: re-insurer not resident in the UK

10Non-investment risk arrangements

11Re-insurance of protection business and of immediate needs annuities

12Section 90(4) - amount of investment returns

13Reducing the I minus E profit

14Insurance business transfers

SCHEDULEInvestment returns

1The provisions of this Schedule— (a) set out the amount...

2Except as provided by paragraphs 3 and 4, the investment...

3Except for the APC in which the re-insurance arrangement ends,...

4For the APC in which the re-insurance arrangement ends, the...

5Step 1: calculate the total (“the step 1 total”) of—...

6Step 2: calculate the amount of the investment return which...

7Step 3: if— (a) the step 2 total exceeds the...

8In this Schedule— “ceased policies or contracts” means those policies...

2018 No. 538

Corporation Tax

The Insurance Companies (Taxation of Re-insurance Business) Regulations 2018

Made26th April 2018

Laid before the House of Commons30th April 2018

Coming into force1st June 2018

The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by sections 57(3), 90(4) and (5) and 91 of the Finance Act 20121: