{
  "url": "https://openlegislation.uk/financing-arrangement-funded-transfers-to-shareholders-regulations-2008",
  "json_url": "https://openlegislation.uk/financing-arrangement-funded-transfers-to-shareholders-regulations-2008.json",
  "id": "uksi/2008/1926",
  "title": "The Financing-Arrangement-Funded Transfers to Shareholders Regulations 2008",
  "short_title": "Financing-Arrangement-Funded Transfers to Shareholders 2008",
  "long_title": "Sections 83YC and 83YD of the Finance Act 1989 (inserted by paragraph 1(3) of Schedule 17 to the Finance Act 2008) provide a revised tax treatment for a type of financing arrangement where a loan or advance made to an insurance company or a financial reinsurance arrangement made by an insurance company has the initial effect of increasing the company’s surplus which is used to make a transfer to the shareholders of the company. This type of transfer is known as a “financing-arrangement-funded transfer to shareholders”, sometimes abbreviated to “FAFTS”. The new section 83YC imposes a charge to tax if an insurance company makes a FAFTS in relation to a non-profit fund; and the new section 83YD provides for corresponding adjustments to be made if a loan or advance is repaid or if liabilities reinsured under a financial reinsurance arrangement are recaptured.",
  "citation": "S.I. 2008/1926",
  "type": "uksi",
  "year": "2008",
  "number": "1926",
  "version": "current",
  "date": "2008-07-22",
  "revised": false,
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      "heading": "Introductory text",
      "url": "https://openlegislation.uk/financing-arrangement-funded-transfers-to-shareholders-regulations-2008/introduction",
      "extent": null,
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    },
    {
      "path": "crossheading/1",
      "kind": "crossheading",
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      "heading": "Citation, commencement and effect",
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      "number": "The treatment of section 83YC(3) amounts",
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    },
    {
      "path": "regulation/3",
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      "heading": "Amounts wholly attributable to life assurance business or to gross roll-up business",
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      "extent": null,
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      "heading": "Other cases where relevant financing arrangements meet the loan condition only: life assurance business and PHI business",
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      "path": "regulation/5",
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      "heading": "Other cases where relevant financing arrangements meet the loan condition only: gross roll-up business and basic life assurance and general annuity business",
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      "path": "regulation/7",
      "kind": "regulation",
      "number": "7",
      "heading": "Other cases where relevant financing arrangements meet the reinsurance condition only: gross roll-up business and basic life assurance and general annuity business",
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      "path": "regulation/8",
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      "number": "8",
      "heading": "Relevant financing arrangements of more than one type",
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      "number": "The treatment of section 83YD(2) amounts",
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      "heading": "Cases involving more than one section 83YC(3) amount",
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      "id": "ukpga/1989/26",
      "title": "Finance Act 1989",
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    "retrieved_at": "2026-10-29T03:26:59.306276+00:00"
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  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
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}