Closed consultation

Solvency II and the Taxation of Insurance Companies

This consultation was published under the 2005 to 2010 Labour government

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Original consultation

This consultation ran from to

Summary

Seeking views to explores the implications for both life and general insurers, and about the future of life company taxation.

Documents

Solvency II and the Taxation of Insurance Companies (PDF 643KB)

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Solvency II Consultation - Open Day Slides (PPT 2.2MB)

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Consultation description

The EU Solvency Directive II will supersede the current regulatory reporting requirements for insurance companies. The taxation of life companies is at present based on the regulatory reporting, so changes will be needed to the life company tax code. Solvency II will also impact on the taxation of non-life insurance companies. These changes will occur against the background of anticipated new accounting standards for insurance companies. 

The Government has already been consulting informally on the changes needed, and has now published this formal consultation document, which explores the implications for both life and general insurers, and invites wider debate about the future of life company taxation.