Revenue Note for Guidance

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Revenue Note for Guidance

709 Companies carrying on life business

A company’s life business is treated for corporation tax purposes as a business separate from any other class of business carried on by the company. In quantifying whether and to what extent a company has incurred a loss on its life business, the investment income of its life assurance fund (including franked investment income) must be taken into account.

Relevant Date: Finance Act 2019