Background

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.

Delegates

• Specialist life tax personnel
• Pricing staff for funds
• Accountants in Life companies
• Auditors of Life companies
• Actuaries
• Life Product design specialists
• Those in the Corporate Life Market and Life Reinsurers
  
  
  

Content

-Basic mechanism for CGT, exemptions and excluded assets

-Pre 65 assets.  Examples.

-Post 65 and 82 pools - introduction of indexation.

-Examples

-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

-Anti-avoidance

-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