Commentary

D7.462 BLAGAB acquisition expenses

Corporate tax
Corporate tax | Commentary

D7.462 BLAGAB acquisition expenses

Corporate tax | Commentary

D7.462 BLAGAB acquisition expenses

Acquisition expenses attributable to a company's BLAGAB are not wholly relievable in the period in which they are incurred but must be spread forward and relieved as management expenses over a seven year period. Although acquisition expenses will be spread in the company's statutory accounts, the deferral for tax purposes is not calculated by reference to the entries in the accounts. Despite the changes to the tax regime for insurance companies tying the tax computation more closely to the accounts, the government chose not to address the mismatch between the accounting and tax regimes in this

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