Commentary

D7.471 BLAGAB trade loss—Relief against total profits

Corporate tax
Corporate tax | Commentary

D7.471 BLAGAB trade loss—Relief against total profits

Corporate tax | Commentary

D7.471 BLAGAB trade loss—Relief against total profits

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.

Notwithstanding that a BLAGAB trade profit would not be charged to tax under CTA 2009, s 35 because of the application of the charge on the I-E basis, a BLAGAB trade loss may still be relieved against the company's total profits under CTA 2010, s 37 as is the case for any other company1.

In order to keep the shareholders' and policyholders' economic

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