Commentary

D7.4110 Unrelieved expenses at transition

Corporate tax
Corporate tax | Commentary

D7.4110 Unrelieved expenses at transition

Corporate tax | Commentary

D7.4110 Unrelieved expenses at transition

The repeal of the legislation governing the carry forward of excess BLAGAB management expenses and the spreading forward of BLAGAB acquisition expenses under the pre-2013 regime means that in the absence of rules to the contrary these amounts would have been lost on transition to the new regime which clearly would have been unacceptable.

Unused management expenses referable to the company's BLAGAB arising under the pre-2013 regime are taken into account in calculating the amount of adjusted BLAGAB management expenses under Step 5 in FA 2012, s 76 for the first post-transition period1.

Likewise spread sevenths of

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