Statutory Instrument 1996 No. 2991

      The Insurance Companies (Reserves) (Tax) Regulations 1996


      © Crown Copyright 1996

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STATUTORY INSTRUMENTS

1996 No. 2991

INCOME TAX

The Insurance Companies (Reserves) (Tax) Regulations 1996

Made 27th November 1996
Laid before the House of Commons 28th November 1996
Coming into force - 23rd December 1996


ARRANGEMENT OF REGULATIONS

PART I
GENERAL
1.  Citation, commencement and effect.
2.  Interpretation.
3.  Differing treatments of reserves.
PART II
EQUALISATION RESERVES, ETC.
Overall Scope
4.  Scope of this Part.
Accounting on a non-annual basis
5.  Non-annual accounts: tax returns prepared on an annual basis.
General provisions
6.  Companies carrying on mutual business and business other than mutual business.
7.  EC companies.
8.  Certain insurance business carried on outside the United Kingdom.
9.  United Kingdom branches of companies not resident in the United Kingdom which maintain equalisation reserves by virtue of section 34A regulations.
10.  Double taxation relief.
PART III
RESERVES MAINTAINED FOR THE PURPOSES OF CREDIT INSURANCE BUSINESS
11.  Scope of this Part.
12.  Application of section 444BA.
13.  Transitional provision.
14.  Application of provisions contained in Part II of these Regulations.

 

Explanatory Note


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