Life Products Taxation

To explain the taxation of life products from the corporate and personal perspective.

To give a good introduction to those who are involved in reporting taxable events. Especially applicable to companies who have to report under the new fiscal representative rules.

• Client service staff
• Product development executives
• Help desk staff
• Technical staff who need to understand  product structure and taxation
• Accountants with no or limited knowledge
• Internal audit and compliance staff in this area
• IT executives involved in taxation systems for life companies

-Tax in life, pensions and overseas funds introduction.

-Unit linked funds, with-profit funds and non-linked unitised with-profit funds.

-Comparison of these to a unit trust.

-Basic valuation points.

-Life, Pension, Friendly Society, PHI and CICs policies.

-Overview of a life company's allocation between the business and policyholders including bonuses, reversionary interests, terminal costs, etc.

-Capital units and related charging structures on policies.

-Actuarial valuation and embedded values - basic review.

-Morbidity, mortality and related reserves.

-Matching policy types to businesses and funds.

-Qualifying and non-qualifying policies, exempt policies.

-Overseas policies.