Commentary

D7.442 Definition of BLAGAB chargeable gains

Corporate tax
Corporate tax | Commentary

D7.442 Definition of BLAGAB chargeable gains

Corporate tax | Commentary

BLAGAB chargeable gains

D7.442 Definition of BLAGAB chargeable gains

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.

As for income, the legislation sets out a step by step approach to calculating the amount of BLAGAB chargeable gains for the period.

Step 1 requires that the company calculates the chargeable gains accruing on the disposal of assets that are held for the purposes of its long-term business and which are referable to BLAGAB under the company's commercial allocation methodology (see D7.433).

Step 2 requires

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