The Friendly Societies (Modifications of the Tax Acts) Regulations 2012
Parts 2 and 3 of the Finance Act 2012 (c. 14) (“FA 2012”) established a new regime for the taxation of insurance companies and friendly societies. As from 1st January 2013 the starting point for the calculation of the trading profits of insurance companies and friendly societies will be the statutory company accounts, rather than the regulatory return.
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Lifecycle
Department
Made
03 Dec 2012
—
In force
31 Dec 2012
Enabling power
The Treasury make the following Regulations in exercise of the powers conferred by sections 151(3), (4) and (6), 158(5) and (7), 166(6) and (8) and 167(4) and (6) of the Finance Act 2012.
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