UK Statutory Instrument 2022 United Kingdom

The Insurance Contracts (Tax) (Change in Accounting Standards) Regulations 2022

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2 compliance obligations

What this Act requires

Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.

s.003

Determining the transitional amount

  • Calculate transitional amount when adopting IFRS 17
s.012

Amounts recognised in other comprehensive income

  • Bring insurance contract OCI amounts into corporation tax when contract is derecognised
Browse 11 other sections — procedural / definitional / commencement
s.001

Citation, commencement and effect

s.002

Interpretation

s.004

Trading apportionment of the transitional amount

s.005

Treatment of the transitional amount

s.006

Transitional period over which the transitional amount brought into account

s.007

Transfers of business in the transitional period: transferee within charge to corporation tax

s.008

Transfers of business in the transitional period: other cases

s.009

Cessation of long-term business in the transitional period

s.010

Election under section 18A of the Corporation Tax Act 2009 in the transitional period

s.011

Exclusion of adjustment on change of basis rules

s.013

Meaning of “ordinary BLAGAB management expenses”

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