Commentary

D7.5125 Excess adjusted life assurance trade profits

Corporate tax
Corporate tax | Commentary

D7.5125 Excess adjusted life assurance trade profits

Corporate tax | Commentary

D7.5125 Excess adjusted life assurance trade profits

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

One of the key purposes for the calculation of the notional trading profit is to use it as a baseline for determining the minimum profit charged to tax on the I-E basis on the premise that the profit taxable on the latter basis cannot be lower than the company's trading profit.

Following the move to the mandatory I-E basis (see D7.507) the legislation sets out the

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