Commentary

D7.467 Calculating the BLAGAB trade profit or loss

Corporate tax
Corporate tax | Commentary

D7.467 Calculating the BLAGAB trade profit or loss

Corporate tax | Commentary

I-E Basis—BLAGAB trade profit or loss

D7.467 Calculating the BLAGAB trade profit or loss

Although a life insurance company's BLAGAB is taxed on the I-E basis it is still required to calculate a BLAGAB trade profit or loss for the purposes of the minimum profits test in FA 2012, s 93 and in order to determine the split of the I-E profit between the policyholders and shareholders under FA 2012, s 103.

A company has a BLAGAB trade profit if there are BLAGAB profits for the period calculated using the normal trading basis rules that would be chargeable under CTA

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