Finance Act 2012 (c. 14)

PART 2 U.K. Insurance companies carrying on long-term business

CHAPTER 6 U.K. Trade calculation rules applying to long-term business

111 Dividends and other distributions U.K.

(1) Dividends or other distributions—

(a) which are receivable by the company, and

(b) which are referable, in accordance with Chapter 7, to the business concerned,

are to be brought into account as receipts in calculating the profits.

(2) This rule—

(a) applies whether or not the distributions are exempt for the purposes of Part 9A of CTA 2009 or would otherwise be dealt with under that Part, but

(b) does not apply in the case of distributions that are of a capital nature.