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HMRC internal manual

General Insurance Manual

From
HM Revenue & Customs
Updated
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General Insurance Manual: recent changes

Below are details of the amendments that were published on 4 May 2007 (see the update index for all updates).

Section Title and details of update
   
GIM2050 Accounting framework: Association of British Insurers: Statements of Recommended Practice 1990, 1998, 2003 and 2005
This paragraph now includes information about the December 2005 Statement of Recommended Practice (on Accounting for Insurance Business)    
  GIM2125 Accounting framework: annual accounting: provision for costs of running-off business
New paragraph    
  GIM2140 Accounting framework: funded accounting: general and the transition to annual accounting
This paragraph now includes information about the transition from funded accounting to annual accounting    
  GIM6150 Technical provisions: periods of account beginning on or after 1 January 2000: section 107 FA2000: introduction
This paragraph includes an update about the possible repeal of section 107 of Finance Act 2000    
  GIM6250 Technical provisions: periods of account beginning on or after 1 January 2000: General Insurance Reserves (Tax) Regulations: discounting
The table in this paragraph has been updated to show the discount rates for accounting periods ending 31 December 2006