Life insurance gains by companies with tax credits
We are seeing more companies with investment life insurance contracts that make gains that have to be accounted for as non-trade loan relationships. Where there is a notional tax credit we have to manually gross the gain up and there is nowhere in the software to enter the tax which goes on box 555 on the CT600. Can this be added please?
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Richard Maude
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Wolters Kluwer UK TAA