Regulation 6 Table definitions

In the Table and regulation 5—

• “admissible value” has the meaning given in section 83XA(9) of the Finance Act 1989;

• “the closing deferred policyholder tax balance for the period of account” shall be interpreted in accordance with section 108 of the Finance Act 2012;

• “deferred income reserves” means the fee, commission or other income received in respect of contracts with policyholders which for accounting purposes is deferred and recognised as income over more than one period of account;

• “deferred policyholder tax” means the amount included in the 2012 periodical return or in the accounts of the company for the accounting period ending on 31 December 2012 in respect of deferred tax so far as it is wholly attributable to policyholder tax (except in regulation 5(6) in which case see regulation 5(7));

• “life assurance trade profits” means profits arising from life assurance business calculated in accordance with the provisions applicable for the purposes of the taxation of such profits under section 35 of CTA (charge on trade profits);

• “linked assets” means assets of an insurance company which are identified in its records as assets by reference to the value of which benefits provided for under a policy or contract are to be determined and in cases where only part of an asset is so identified, references to a linked asset are references to that part;

• “mathematical reserves” are those reserves which are determined in accordance with section 1.2 of the Insurance Prudential Sourcebook^f1;

• “outstanding contingent loan” has the meaning given in paragraph 7(3) of Schedule 17;

• “outstanding re-insurance amount” has the meaning given in paragraph 7(4) of Schedule 17;

• “structural assets” has the meaning given in section 83XA(3) of the Finance Act 1989;

• “unrecognised capital amounts” shall be interpreted in accordance with section 83YB(3) and (4) of the Finance Act 1989^f2;

• “wholly attributable to policyholder tax” shall be interpreted in accordance with section 108(2) of the Finance Act 2012.