Company: AHL
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001267395-25-000019
Chunk: 56

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-03-19
Form: 20-F
Item: Item 3
Chunk 56
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 materially adversely affected.

Non-U. S. corporations not engaged in a trade or business within the United States are nonetheless subject to United States income tax imposed by withholding on certain “fixed or determinable annual or periodical gains, profits and income” derived from sources within the United States (such as dividends and certain interest on investments), subject to exemption under the U. S. Internal Revenue Code (the “ Code”) or reduction by applicable treaties.

The United States also imposes an excise tax on insurance and reinsurance premiums (“ FET”) paid to non-U. S. insurers or reinsurers that are not eligible for the benefits of a U. S. income tax treaty that provides for an exemption from the FET with respect to risks (i) of a U. S. entity or individual, located wholly or partially within the United States and (ii) of a non-U. S. entity or individual engaged in a trade or business in the U. S., located within the United States. The rates of tax are 4% for property casualty insurance premiums and 1% for reinsurance premiums.

Our non-U. K. companies may be subject to U. K. tax, which may have a material adverse effect on our operating results and your investment.

None of our non-U. K. entities should be treated as being resident in the U. K. for corporation tax purposes except for our subsidiaries that are incorporated in the United Kingdom (the “ U. K. Subsidiaries”). A company which is not incorporated in the United Kingdom should not be treated as being tax resident in the United Kingdom unless its central management and control is exercised in the United Kingdom. The concept of central management and control is indicative of the highest level of control of a company, and determining where this is exercised is wholly a question of fact. Our non-U. K. entities currently intend to manage their affairs so that none of them, other than the U. K. Subsidiaries, are resident in the United Kingdom for tax purposes, including through compliance with established tax operating guidelines, where applicable.

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A company that is not resident in the United Kingdom for corporation tax purposes can nevertheless be subject to U. K. corporation tax if it carries on a trade in the United Kingdom through a permanent establishment in the United Kingdom but, in that case, the charge to U. K. corporation tax is limited to profits (both revenue profits and capital gains) attributable directly or indirectly to such permanent establishment.

None of our non