Commentary

D7.464 Relief for BLAGAB acquisition expenses

Corporate tax
Corporate tax | Commentary

D7.464 Relief for BLAGAB acquisition expenses

Corporate tax | Commentary

D7.464 Relief for BLAGAB acquisition expenses

Relief for acquisition expenses incurred in an accounting period is given in seven equal instalments in that period and the ensuing six accounting periods1. Step 2 of FA 2012, s 76 gives effect to the spreading by deducting six sevenths of the adjusted amount of acquisition expenses from the total BLAGAB management expenses due, leaving one seventh available for relief. In this context the 'adjusted amount of acquisition expenses' means the acquisition expenses due under Step 1 FA 2012, s 76 less any reinsurance commission, repayment or refund that is a receipt taken into

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