Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Capital Allowances Manual

HM Revenue & Customs
, see all updates

General: successions: transfer of insurance company business


There is legislation in Section 560 about transfers of insurance business. Where it applies there are no balancing adjustments for the transferor and the transferee inherits the transferor’s capital allowances position.

The legislation applies where the whole or part of the business of one insurance company is transferred to another and the transfer is:

  • in accordance with a scheme sanctioned by a court under Part 1 Schedule 2C of the Insurance Companies Act 1982, or
  • a qualifying overseas transfer as defined in ICTA88/PARA4A/SCH19AC.

The legislation does not apply to an asset transferred to a non-resident company unless the asset is used for the part of its business carried on through a UK branch or agency.

It does not apply where the EU transfers legislation applies CA15560.