FRIENDS PROVIDENT PLC - Draft new tax legislation.

PR Newswire UK Disclose, October, 2005

 
                                                                 4 October 2005 
 
                             Friends Provident plc 
 
                DRAFT NEW TAX LEGISLATION - NO EXPECTED IMPACT 
 
Following the publication by the HM Revenue & Customs (HMRC) of draft 
legislation affecting Life Companies for accounting periods ending after 29 
September 2005, the proposed changes are not expected to increase the Friends 
Provident Group tax charge on an Achieved Profit or IFRS basis. 
 
There is, therefore, not expected to be any impact on the Group's profits or 
embedded value as a consequence of these draft proposals. 
 
Not withstanding the fact that there is no expected impact on Friends 
Provident, we are disappointed with the way this draft legislation was 
introduced...

            
        
    
    	    
                
                
	

		

					 
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