The course will cover Capital Gains Tax (CGT) for Life Companies in depth. There is an examination of the rules post 1998 for individuals and companies and a brief review of shareholder assets in a group CGT scheme. The pricing effect resulting from CGT is also illustrated.
The course is very practical with numerous examples.
- Specialist life tax personnel
- Pricing staff for funds
- Accountants in Life companies
- Auditors of Life companies
- Life Product design specialists
- Those in the Corporate Life Market and Life Reinsurers
-Basic mechanism for CGT, exemptions and excluded assets
-Pre 65 assets. Examples.
-Post 65 and 82 pools - introduction of indexation.
-1986 pools and indexation-election for MV adjustment
-1998 and 1999 changes-separation of CGT for individuals
-Partnerships and companies. Examples.
-Post 1998 matching rules. Examples.
-Specialist reliefs-rollover, holdover and deferral
-Rules & regulations of CGT for Life companies.
-Unit linked funds – CGT rules
-Deemed disposals and year end transfers
-Effects of Finance Act 2004
-Transfers between associates: group companies & fund manager box
-Death and liquidation of life companies. Schedule 2c transfers examples.
-Use of losses (trading and management)
-Specialist assets: property, pension schemes & Unit Trusts/ OEICS especially within a Unit Linked fund
-Exempt funds - Overseas, IAS, Friendly Society