The Child Trust Funds (Insurance Companies) Regulations 2004
These Regulations provide for the exemption from corporation tax of income and gains that arise to an insurance company providing child trust funds, so far as they relate to the company’s child trust fund business. They also provide for the profit from operating child trust fund business to be taxed in the same way as profits from the company’s Individual Savings Account business, and for losses arising one category to be set off against profits from the other.