Life funds taxation review

Content
-Overview of the Life Tax Computation specifying schedules and cases.

-Taxation of a Mutual and a Friendly Society compared.

-Outline of the Notional Case 1 and I-E computations for a proprietary company.

-Explanation of the difference between business and funds.

-Comparison of the accounting of tax at business and fund level.

-Taxation of pension funds in a Life Office.

-PHI and CICs taxation.

-Taxation basis for Unit Linked funds.

-Taxation of property funds and gains.

-Taxation of Exempt Funds.

-Providing CGT in a Life Fund:-
- method and calculation
- taxation of unrealised gains
- equalisation calculation

-Deemed disposals of unit trusts and corporate streaming.

-Outline of Actuarial Reserving basis for investment returns and reporting to the DTI.

-Review of the taxation of surplus, mathematical reserves and embedded value.

-Technical and Non-Technical accounts and the Balance Sheets - comparison to
the DTI return -a walk through each.

-Reinsurance Accounting and taxation.

-Taxation and the effect of withdrawal of ACT and FIDs on Life Funds.

-Effect of tax in pricing and on units.

-Bonus allocation and reservation for policy holders.

-Spreading of Management Expenses.

-Annuity Business and deduction of interest.

-Accrued income and taxation of interest for Life Companies including accruals election and mark to market basis.

-Differences from the Accrued Income Scheme.

-Accounting for double taxation, imputation taxes and export credits (such as Avoir Fiscale).

-Schedule 2c transfers and the merger of funds.

-Outline of VAT.






Todays Date: 8 September 2017
Duration 2 days