UK Insurance: General (22 August 2016)

OAC Digest

22 August 2016

Selected recent UK news items of more general interest:

On 12 August, HMRC updated their papers on FRS 101 and 102 providing an "overview of the key accounting changes and the key tax considerations that arise for those companies that transition from Old UK GAAP to the new standards."

On 9 August, HMRC published the summary of responses to the consultation on the "Lifestyling" of Child Trust Funds (CTFs). The government proposes to remove this requirement for stakeholder CTFs with legislation to follow later this year.

Latest ONS statistics:

  • Pay for employees in Great Britain increased by 2.4% including bonuses (up from 2.3%) and by 2.3% excluding bonuses (up from 2.2%)
  • Prices up 0.6% (up from 0.5%) / 1.9% (up from 1.6%) as measured by CPI/RPI
David Gray

For more information
David Gray
Consultant Actuary

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26 June 2017

UK Insurance: FCA (26 June 2017)

Selected recent news from the UK's prudential regulator: Appointed Representatives follow up, call for input on access to insurance, cyber security guide and money laundering developments.