Cancel Christmas! Two key pieces of legislation are set to impact the protection industry in December, writes Andy Milburn of Ageas Protect.
A number of intermediaries are asking me about the EU gender directive, which arrives in December. However, the I-E tax changes that take place nine days later appear to be lower on the radar. The I-E tax regime in the UK currently allows protection providers to offset some of their tax liability on trading profits made from their protection business against their investment business. This will no longer be allowed and, from 1 January 2013, protection business in the UK will be removed from the I-E tax regime. Income protection is not currently part of the I-E tax regime, so is not af...
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