Insurance in United Kingdom – World Insurance Companies Logos. Clicking on the logos of insurance companies in the United Kingdom provides access to all the information available on their respective websites.
Find the Best British Insurers
Find the best UK insurers. Register of insurers logos and names of the United Kingdom, Europe.
By clicking on the logo of an insurance company you will have instant access to updated information on insurance issues that can help you in the task of choosing the best insurer, and also get phone numbers, addresses and prices that insurers offer on the Internet.
Newspapers online
Check these posts
BLAGAB
Basic life assurance and general annuity business are defined as being the life assurance business not fitting within any other category of business under section 431F ICTA. It is often abbreviated to BLAGAB. BLAGAB is taxed on the so-called “I minus E basis” (i.e.
The company is taxed on its investment return minus its expenses of management). The I minus E basis raises the UK Exchequer more revenue than it would get if it were taxed on a trading basis.
This is because a trading computation would tax Premiums plus Investment return minus Expenses minus Claims, and the expectation is that policy holder claims will be greater than the premiums they pay, as policy holders tend to hold life assurance policies as an investment that they hope will grow.
To ensure the Exchequer does not lose out in a year where a trading basis would yield greater tax revenues, E (expenses of management) is restricted so the I minus E cannot be lower than the measure of trading profits, with any restricted E being carried forward and deemed to be E of the subsequent period.
Before 1 January 1992, there were separate tax computations for basic life assurance business and for general annuity business, since then the two categories have been combined into BLAGAB.
Capital redemption business written since 31 December 1937 has been treated as though it were BLAGAB from the first accounting period of a company ending on or after 1 July 1999. Before then, it was treated as a separate business taxed on an I minus E basis.
From Wikipedia.
Insurance in the United Kingdom – World Insurance Companies Logos.