Commentary

D7.472 BLAGAB trade loss—Carry forward against future profits

Corporate tax
Corporate tax | Commentary

D7.472 BLAGAB trade loss—Carry forward against future profits

Corporate tax | Commentary

D7.472 BLAGAB trade loss—Carry forward against future 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.

Any part of the BLAGAB trade loss which has not been relieved under CTA 2010, s 37 though the operation of FA 2012, s 123 is carried forward to subsequent accounting periods so long as the company continues to carry on BLAGAB1.

In those later periods the BLAGAB trade loss is available to reduce the BLAGAB trade profit for the purposes of the minimum profits test in FA 2012, s 93 and calculating that part of the I-E profits to which the policyholders' rate applies2. For accounting periods beginning on or after 1 April 2017 but before 6 July 2018, where a company or group has BLAGAB trade profits in excess of its BLAGAB trade

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