Am reviewing Dune Analytics and the excellent documentation at Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.
What I don’t think was covered is whether these financials include:
-VAT on Membership Fees
-Corporation Tax on Investment Earnings
VAT will be a de minimis difference but CT on investment income from ~£0.5b reserves could be substantial so wanted to check. Related, where the sign is negative, should there be a credit against CT for tax paid on investment income in prior periods?
As investment income is very important to the valuation of an insurer we’d like to be sure we have this correct in our model. Thanks.