HMRC has issued some new rules recently, aimed at insurance companies who are disposing of a co-owned contractual scheme. IE htought you might want to know more;
This measure makes sure that a life insurance company is in a similar tax position regarding the treatment of capital allowances for capital gains calculations, whether they invest in:
- a co-ownership authorised contractual scheme
- the underlying assets directly
These changes are being introduced together with rules for a new type of investment fund, the Reserved Investor Fund.
Tax information and impact note for the Reserved Investor Fund.
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