Commentary

D7.408 Taxation of non-BLAGAB long-term business

Corporate tax
Corporate tax | Commentary

D7.408 Taxation of non-BLAGAB long-term business

Corporate tax | Commentary

D7.408 Taxation of non-BLAGAB long-term 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.

The accounting profits of the company's non-BLAGAB long-term business (defined as the single trade within FA 2012, s 66(3) or (4)1 and therefore bringing together its pension business, child trust fund business, ISA business, overseas life assurance business, protection business written on or after 1 January 2013 and the reinsurance of long-term business) are charged to tax under CTA 2009, s 352.

This general rule is however subject

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial