AGENDA

History and Background of the I - E Regime

The I-E regime has developed over a very long period of time, and the workshop will start by reducing the regime back to its basic principles. These fundamental principles have not changed significantly over the years and provide the framework from which to analyse the more complex areas or life assurance taxation. 
•    Origin of the regime
•    Fundamental principles
•    How the regime has developed

Components of a Life Company Tax Computation

•    The different 'pots' of income
•    What products fall within each 'pot'
•    What impact does each product have on the effective tax rate
•    Overview of deferred tax in a life company

Tax Compliance Process

•    Overview of compliance requirements for life insurers
•    Compliance timetable

How Tax Influences Statutory Reporting

•    Different Bases of Statutory Reporting
•    A Typical Tax Reporting Process
•    "Customers" and "Suppliers"
•    Shareholder and Policyholder Tax
•    Current and Deferred Tax
•    Tax as an element in Embedded Value


Impact of Tax on Regulatory Returns

Impact of Tax on the Business - Products, Marketing and Profit Measurement

•    Allowance for life office tax in pricing
•    Impact of mix and volume of business
•    Influence of tax in making a product more competitive
•    Is the tax incurred consistent with that expected?
•    Impact of reinsurance or restructuring
•    Allowance for tax in unit pricing for unit linked contracts
•    Tax issues in financial reporting and profit measurement

Transaction Considerations
 
•    Overview of more common transaction tax issues
•    Specific life assurance considerations

Recent Developments & Consultations

•    Apportionments - issues, status of consultation and possible outcomes
•    Taxation of foreign profits
•    Introduction of new capital
•    HMRC concerns re trading losses
•    Policyholder tax issues
•    Other current issues and concern

SPEAKERS

The programme includes presentations from: Ernst & Young, Watson Wyatt, PricewaterhouseCoopers, Deloitte, KPMG

WHO SHOULD ATTEND

This seminar will benefit less experienced Tax Managers seeking a refresher or introductory level course. It will also be of immediate and lasting benefit to more senior individuals from:
 

• Finance & Accounting
• Regulatory Reporting
• Actuarial
• Audit
• Pricing & Product Development

COURSE TIMINGS

9.00    Registration
9.30    Course Starts
5.00    Course Ends