Commentary

D7.439 BLAGAB miscellaneous income

Corporate tax
Corporate tax | Commentary

D7.439 BLAGAB miscellaneous income

Corporate tax | Commentary

D7.439 BLAGAB miscellaneous income

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.

Any miscellaneous income (income that would be chargeable under any provision to which CTA 2010, s 1173 applies) referable to BLAGAB is treated as income only to the extent that it exceeds BLAGAB miscellaneous losses1.

If the BLAGAB miscellaneous losses exceed the BLAGAB miscellaneous income, the excess is carried forward to the next accounting period and treated as a deemed BLAGAB management expense (see D7.459)

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