Commentary

D7.556 General principles

Corporate tax
Corporate tax | Commentary

D7.556 General principles

Corporate tax | Commentary

Relief for BLAGAB expenses

D7.556 General principles

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.

Companies carrying on life insurance business that are charged to tax on that business on the I-E basis are entitled to a deduction in computing their profits for expenses payable1. For accounting periods ending before 1 January 2006 this relief was extended to any capital redemption business that the company wrote2.

There is no longer any general prohibition on a life insurance company obtaining relief for

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