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

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.

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

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