Life assurance: new regime guidance

HMRC have published interim guidance on two aspects of the new long-term business corporate tax regime which commenced on 1 January.  The issues covered are:

• allocation of income, gains, profts etc and expenses between tax categories
• interaction with CFC legislation:  application of the Avoidance of Double Charge Regulations 2012

The interim guidance is at http://www.hmrc.gov.uk/life-assurance/manual.htm.