Commentary

D7.405 Separate tax bases for different types of business

Corporate tax
Corporate tax | Commentary

D7.405 Separate tax bases for different types of business

Corporate tax | Commentary

D7.405 Separate tax bases for different types of business

The rules in this division apply for accounting periods beginning on or after 1 January 2013. For accounting periods beginning before 1 January 2013 see Division D7.5.

An insurance company that carries on both BLAGAB and other types of long-term business is treated for corporation tax purposes as if it had two separate businesses; the first consisting of its BLAGAB, the second consisting of all its other long-term business which is to be regarded as a single trade1. This latter business is referred to in the legislation as non-BLAGAB long-term business (hereafter

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