The Insurance Companies (Overseas Life Assurance Business) (Tax Credit) Regulations 1995
These Regulations make provision for an insurance company to be entitled to a tax credit under section 231 of the Income and Corporation Taxes Act 1988 (“the 1988 Act”) where a distribution is made in respect of any asset of the company’s overseas life assurance fund. They also make provision as regards the amount of that tax credit, for determining the territories in which relevant overseas policy holders are residing and in relation to records and the provision of information.