Commentary

D7.529 Meaning of basic life and general annuity business

Corporate tax
Corporate tax | Commentary

D7.529 Meaning of basic life and general annuity business

Corporate tax | Commentary

Basic life and general annuity business

D7.529 Meaning of basic life and general annuity business

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.

A company's basic life and general annuity business ('BLAGAB') is defined by exclusion as its life insurance business (including reinsurance business) other than its gross roll up business1.

For accounting periods beginning before 1 January 2007, the exclusion was expressed in terms of the separate categories of pension business, life reinsurance business or overseas life

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