Insight and Intelligence on the London & International Insurance Markets

24 January 2018

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Forthcoming UK tax changes to hit loss reporting

Matthew Neill 8 November 2016

A raft of changes to UK corporate tax law next year are likely to cause substantial disruption to how insurers structure their financial reporting.

Recommended changes to the base erosion and profit sharing arrangements (BEPS) by the Organisation for Economic Cooperation and Development (OECD) and UK reforms on carried forward losses will begin to impact insurers' financial results and Solvency II positions from 2017.

Under the new UK regime carried forward losses will no longer be wholly tax-deductible and will...

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This article was published as part of issue November 2016/2

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