The rule in plain words
IR.12.06 should not have data if there is data in IRR.12.06
What to do if your return fails it
- 01Open the tables below and find the cells the rule reads.
- 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
- 03It runs only when your filing indicators mark IR.12.05 and IRR.12.05 as reported.
- 04This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it.
The cells it reads
With-profits value of bonus (IRR.12.05.01.01)
Rows
- R0010Bonuses added at date of claim
- R0020Clawback of past bonuses at date of claim
- R0030Cash bonuses
- R0040Reversionary bonuses
- R0050Other bonuses
- R0060Total distribution of profits as discretionary benefits to policyholders
- R0080Shareholder proportion
- R0090Shareholder transfer accruing during the financial year
- R0100Amount brought forward
- R0110Amount transferred
- R0120Amount carried forward
Column
- C0050Total
With-profits value of bonus (IR.12.05.01.01)
Rows
- R0010Bonuses added at date of claim
- R0020Clawback of past bonuses at date of claim
- R0030Cash bonuses
- R0040Reversionary bonuses
- R0050Other bonuses
- R0060Total distribution of profits as discretionary benefits to policyholders
- R0080Shareholder proportion
- R0090Shareholder transfer accruing during the financial year
- R0100Amount brought forward
- R0110Amount transferred
- R0120Amount carried forward
Column
- C0050Total
Which returns it applies to
Line4 Check runs it on annual solo (ARS) return on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual solo (ARS) returns, as a warning.
The Bank’s own words and formula
The plain words above are the Bank of England’s own, word for word, from its list of validations.
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
if not(isNull({t: IRR.12.05.01.01, r: R0010; R0020; R0030; R0040; R0050; R0060; R0080; R0090; R0100; R0110; R0120, c: C0050, z: Z0001})) then isNull({t: IR.12.05.01.01, r: R0010; R0020; R0030; R0040; R0050; R0060; R0080; R0090; R0100; R0110; R0120, c: C0050, z: Z0001}) else true()Other rules on With-profits value of bonus (IRR.12.05)
- With-profits value of bonus: C0050 (total) = c0030+c0040 (IR_bv1821)Blocking
- With-profits value of bonus: C0050 (total) = c0030+c0040 (IR_bv1823)Blocking
- With-profits value of bonus: R0020 c0040 (clawback of past bonuses) <= 0 (IR_bv1824)
- With-profits value of bonus: R0120 (carried forward) = r0090 (accruing) + r0100 (brought forward) - r0110 (transferred) (IR_bv1826)Blocking
- With-profits value of bonus: R0020 c0030 (clawback of past bonuses) <= 0 (IR_bv1817)
- With-profits value of bonus: C0050 (total) = c0030+c0040 (IR_bv1827)Blocking
- With-profits value of bonus: {r0090, c0050} (shareholder transfer accruing) = {r0060, c0040} * {r0080, c0050} / (1 - {r0080, c0050}) (IR_bv1816)
- With-profits value of bonus: C0050 (total) = c0030+c0040 (IR_bv1828)Blocking
Every Solvency UK rule on IRR.12.05
Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.