Commentary

D7.5148 Life assurance trade profits in the calculation—relief for losses brought forward

Corporate tax
Corporate tax | Commentary

D7.5148 Life assurance trade profits in the calculation—relief for losses brought forward

Corporate tax | Commentary

D7.5148 Life assurance trade profits in the calculation—relief for losses brought forward

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.

The life assurance trade profit used in the calculation of the policy holders' share of the relevant profits, including the calculation of the shareholders' share of distributions referable to BLAGAB, is reduced by losses brought forward from earlier accounting periods subject to any adjustment required by FA 1989, s 85A(4) (see D7.537)1.

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