Commentary

D7.412 Basic life and general annuity business

Corporate tax
Corporate tax | Commentary

D7.412 Basic life and general annuity business

Corporate tax | Commentary

D7.412 Basic life and general annuity 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.

A company's basic life and general annuity business ('BLAGAB') is defined by exclusion as its life assurance business other than:

  1.  

    •     pension business

  2.  

    •     child trust fund business

  3.  

    •     individual savings account business

  4.  

    •     business which constitutes immediate needs annuities

  5.  

    •     reinsurance of life assurance business (except where excluded by regulation)

  6.  

    •     overseas life assurance business, or

  7.  

    •    

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