Commentary

D1.521 Forms of relief

Corporate tax
Corporate tax | Commentary

D1.521 Forms of relief

Corporate tax | Commentary

D1.521 Forms of relief

The amount of the qualifying expenditure is given as an expenses deduction1. On making a claim, the company may treat the expenditure as part of its expenses of management for the accounting period for which it is entitled to relief2. Further it may claim an additional deduction for 50% of the expense3.

If in an accounting period a company carrying on basic life assurance and general annuity business (BLAGAB) (life assurance business for accounting periods beginning before 1 January 2013) has a 'qualifying BLAGAB loss' (see below), it may claim a 'BLAGAB tax credit (formerly life assurance

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