GIM4000 - Taxation of general insurance

This Chapter describes the broad framework of taxation of general insurance, and covers the taxation of the underwriting results of general insurance companies using annual and non-annual (funded) accounting. It also deals with issues such as commencement and cessation and transfers of business. Other details of the taxation of general insurance are covered elsewhere in GIM. See GIM5000+ on the taxation of the investment return, GIM6000+ on the tax treatment of technical provisions, and GIM7000+ on the tax treatment of equalisation reserves.

  1. GIM4010
    Introduction
  2. GIM4020
    Historical background
  3. GIM4030
    General rules
  4. GIM4040
    UK GAAP and International Accounting Standards
  5. GIM4050
    Overview of the accounts
  6. GIM4060
    Annual accounting: accounting for premium income
  7. GIM4070
    Annual accounting: UPP
  8. GIM4080
    Annual accounting: acquisition costs and administrative expenses
  9. GIM4090
    Annual accounting: capital allowances
  10. GIM4100
    Annual accounting: intangible assets
  11. GIM4110
    Annual accounting: currency accounting: APs beginning before 1 January 2005: general rules
  12. GIM4120
    Annual accounting: currency accounting: general rules: APs beginning before 1 January 2005: sections 93 and 93A FA 1993
  13. GIM4130
    Annual accounting: currency accounting: general rules: APs beginning on or after 1 January 2005
  14. GIM4140
    Funded accounting: general
  15. GIM4150
    Funded accounting: an example
  16. GIM4160
    Funded accounting: CTSA implications
  17. GIM4170
    Funded accounting: CTSA enquiry windows
  18. GIM4180
    Funded accounting: other tax issues
  19. GIM4190
    Commencement and cessation
  20. GIM4200
    Insolvency
  21. GIM4210
    Business in run-off
  22. GIM4220
    Transfers of business: general
  23. GIM4230
    Transfers of business: tax treatment
  24. GIM4240
    Transfers of business: transfer of trading losses
  25. GIM4250
    Composite insurance companies
  26. GIM4260
    Insurance premium tax (IPT)
  27. GIM4270
    VAT
  28. GIM4280
    Interest and penalties