Corporation Tax Act 2010 section 357XF

Re-insurance activity

Section 357XF provides that re-insurance activity is an excluded activity for the purposes of the Northern Ireland corporation tax regime.

  • The activity of effecting or carrying out re-insurance contracts is classified as an excluded activity.
  • This means profits from re-insurance activities do not qualify for the Northern Ireland reduced rate of corporation tax.
  • Both entering into new re-insurance contracts and performing obligations under existing ones are caught by this exclusion.
  • This provision was introduced by the Corporation Tax (Northern Ireland) Act 2015.

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