Life Products Taxation
To explain the taxation of policyholder premiums from time of receipt in the funds until proceeds are paid.
To explain the taxation of life products from the corporate and personal perspective.
To give a good introduction to those who are involved in reporting taxable events. Especially applicable to companies who have to report under the new fiscal representative rules.
Client service staff
Product development executives
Help desk staff
Technical staff who need to understand product structure and taxation
Accountants with no or limited knowledge
Internal audit and compliance staff in this area
IT executives involved in taxation systems for life companies
-Tax in life, pensions and overseas funds introduction.
-Unit linked funds, with-profit funds and non-linked unitised with-profit funds.
-Comparison of these to a unit trust.
-Basic valuation points.
-Life, Pension, Friendly Society, PHI and CICs policies.
-Overview of a life company's allocation between the business and policyholders including bonuses, reversionary interests, terminal costs, etc.
-Capital units and related charging structures on policies.
-Actuarial valuation and embedded values - basic review.
-Morbidity, mortality and related reserves.
-Matching policy types to businesses and funds.
-Qualifying and non-qualifying policies, exempt policies.
-Chargeable events on the above including chargeable losses and Friendly Society enhancements.
-Policy enhancements, endorsements, encashments, 5% rule, top slicing.
-Personal Portfolio Bonds - the new rules and complexities.
-Policies to back mortgages.
-The Fiscal Representative new rules - how these apply in practice.
-Compensating policyholders - taxation on the payments.
-Putting a policy into trust - the practicalities.
-Types of trust arrangements used.
-Gifts to children - insurable interest: the tax consequences of gifting to children.
-IHT planning: PETS and normal expenditure out of income.
-Closure of the Lady Ingram Rule and its effect on Life Policies.
-Life Annuities: the different types and tax rates applicable.
-Payments to overseas policy holders.
|Duration|| 1 day|
|Available as an in-house course|
Investment Education PLC
45 Old Hall Road, Manchester M7 4JF, United Kingdom
Tel:+44 (0)161 832 3800
Registered in England Number 2129160
VAT Registered Number GB 480 2112 85
site designed by:WEBSCIENCES