Commentary

D7.406 Insubstantial amounts of BLAGAB

Corporate tax
Corporate tax | Commentary

D7.406 Insubstantial amounts of BLAGAB

Corporate tax | Commentary

D7.406 Insubstantial amounts of BLAGAB

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.

There is an exception to the general principle requiring the separation of an insurance company's long-term business between BLAGAB and non-BLAGAB business in circumstances where the latter category constitutes substantially all of the company's long-term business1.

In such a case the company is regarded as having no separate BLAGAB business but is instead treated as having one business that is regarded as a single trade consisting of all its

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