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

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.  

    •     protection business1

By default BLAGAB also includes the company's capital redemption business which is brought within the definition of life assurance business2 but is not excluded by the list

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