Commentary

D7.465 General annuity business

Corporate tax
Corporate tax | Commentary

D7.465 General annuity business

Corporate tax | Commentary

D7.465 General annuity business

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.

Relief is available as a deemed management expense for qualifying BLAGAB annuities paid in an accounting period1. The amount of relief due is the difference between the total amount of such annuities paid by the company in the accounting period and the total of the amounts exempted under ITTOIA 2005, s 717 (on the assumption that the excluded annuities exemption does not apply2)3.

The term 'qualifying BLAGAB annuity' refers to any

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