Commentary

D7.470 BLAGAB trade losses

Corporate tax
Corporate tax | Commentary

D7.470 BLAGAB trade losses

Corporate tax | Commentary

D7.470 BLAGAB trade losses

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 an insurance company is taxed on its BLAGAB on the I-E basis, it may still make use of a BLAGAB trade loss on the grounds that it is sufficiently alike to a normal trade loss to be subject to similar provisions for relief. It is entirely possible for a company to record an I-E profit and a BLAGAB trade loss (or vice versa) in the same accounting

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