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

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.

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

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