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HMRC internal manual

General Insurance Manual

From
HM Revenue & Customs
Updated
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Taxation of the investment return

This section covers one of the more unusual features of the taxation of general insurers, namely the treatment of investment income and gains. See GIM4000+ for the broad framework of the taxation of general insurance.

  1. GIM5010
    General overview
  2. GIM5020
    The general rule: investment income treated as trading receipt
  3. GIM5030
    Exceptions to the general rule: investment income not always taxed as trade profits
  4. GIM5040
    UK dividends and other distributions: history and basic rule
  5. GIM5050
    UK dividends and other distributions exemption: dividend stripping: distributions made before 1 April 2008
  6. GIM5055
    UK dividends and other distributions exemption: dividend stripping: distributions made on or after 1 April 2008: preference share lending
  7. GIM5060
    Interest and foreign dividends
  8. GIM5070
    Interest and foreign dividends: income received under deduction of tax
  9. GIM5080
    Use of trading losses against investment income
  10. GIM5090
    Corporate and government debt: accounting periods ending after 31 March 1996: introduction
  11. GIM5100
    Corporate and government debt: accounting periods ending after 31 March 1996: rules for insurance companies
  12. GIM5110
    Corporate and government debt: exchange differences: accounting periods ending after 31 March 1996 and beginning before 1 October 2002
  13. GIM5120
    Corporate and government debt: exchange differences: accounting periods ending after 31 March 1996 and beginning on or after 1 October 2002
  14. GIM5130
    Financial instruments: accounting periods beginning before 1 October 2002
  15. GIM5140
    Derivative contracts: accounting periods beginning on or after 1 October 2002
  16. GIM5150
    Investment gains: accounting periods beginning before 1 January 2002: gains and losses on equities and other non-debt assets
  17. GIM5160
    Investment gains: accounting periods beginning before 1 January 2002: portfolio assets and trading stock
  18. GIM5170
    Investment gains: accounting periods beginning before 1 January 2002: portfolio assets and trading stock: periods ending before 1 April 1996
  19. GIM5180
    Investment gains: accounting periods beginning before 1 January 2002: the realisations basis
  20. GIM5190
    Investment gains: accounting periods beginning on or after 1 January 2002: transition from realisation basis: change of accounting basis
  21. GIM5200
    Investment gains: accounting periods beginning on or after 1 January 2002: transition from realisation basis: transitional measures
  22. GIM5210
    Investment gains: accounting periods beginning on or after 1 January 2002: transition from realisation basis: transfers of business
  23. GIM5220
    Investment gains: accounting periods beginning on or after 1 January 2002: transition from realisation basis: identification of part realisations
  24. GIM5230
    Investment gains: structural assets
  25. GIM5240
    Investment gains: paper for paper exchange of assets
  26. GIM5250
    Investment gains: paper for paper exchange of assets: section 473 ICTA 1988
  27. GIM5260
    Investment gains: portfolio assets: anti avoidance provisions
  28. GIM5270
    Investment gains: portfolio assets: exchange differences
  29. GIM5280
    Investment gains: land and property