Insurance tax review 2007/08

March 2008

The second annual PwC UK insurance tax review looks at the developments in the insurance tax arena over the past 12 months and considers what the industry should expect in 2008, including:

• Gross roll-up business
• Crown option
• Structural assets
• Transfers of business
• Financing-arrangement-funded transfers to shareholders
• Pre-Budget Report - capital gain tax and reinsurance
• Section 107 - general business reserves
• Insurance special purpose vehicles
• Regulatory and accounting developments
• Policyholder tax
• Indirect tax
• Taxation of companies' foreign profits
• EU developments
• OECD - attribution of profits to permanent establishments.

The review is intended for those who do not consider themselves tax experts, but who need an understanding of how tax developments may impact their business. We hope, however, that tax specialists will also find it of interest.