Commentary

D7.463 Definition of BLAGAB acquisition expenses

Corporate tax
Corporate tax | Commentary

D7.463 Definition of BLAGAB acquisition expenses

Corporate tax | Commentary

D7.463 Definition of BLAGAB acquisition expenses

Acquisition expenses are defined as:

  1.  

    (a)     all commissions, however described, except commissions referable to persons who collect premiums house to house; this exclusion does not preclude such expenses from falling into acquisition expenses by virtue of paragraphs (b) or (c) that follow

  2.  

    (b)     any other expenses payable solely for the purpose of the acquisition of new business, and

  3.  

    (c)     the appropriate proportion of any other expenses payable partly for the acquisition of new business and partly for other purposes1

The acquisition of new business includes (but is not limited to) securing:

  1.  

    (a)     increased premiums in

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