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This manual provides guidance on the corporation tax treatment of insurance companies writing life assurance and other long-term insurance business. »Ê¹ÚÌåÓýapp guidance relates to the life tax regime introduced in Finance Act 2012 effective from 1 January 2013. »Ê¹ÚÌåÓýapp is archived and still available.

»Ê¹ÚÌåÓýapp tax treatment of life insurance policyholders is set out in the Insurance Policyholder Taxation Manual (IPTM). »Ê¹ÚÌåÓýapp tax treatment of pension policyholders is set out in the Pensions Tax Manual (PTM). Issues related to general insurance (property & casualty) are set out in the General Insurance Manual (GIM).

»Ê¹ÚÌåÓýapp manuals are primarily written for the guidance of HMRC staff and are intended to be used by insurers and their advisers. This manual is relevant to companies writing life assurance and other long-term business as defined in FA12/S56 and FA12/S63.

»Ê¹ÚÌåÓýapp terms ‘life insuranceâ€� and ‘life assuranceâ€� are normally interchangeable and ‘life insuranceâ€� is generally used in this manual except where the specific definition of life assurance for tax purposes is being referred to.