Commentary

D7.557 What expenses qualify for relief

Corporate tax
Corporate tax | Commentary

D7.557 What expenses qualify for relief

Corporate tax | Commentary

D7.557 What expenses qualify for relief

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.

In order to allow relief against the company's BLAGAB income and gains it is first necessary to establish which expenses are referable to BLAGAB and for what accounting period.

The expenses referable to BLAGAB are those attributable to that business in accordance with either generally accepted accounting practice or the requirements of the FSA's Insurance Prudential Sourcebook1. In practice, the regulatory return requires companies to allocate expenses at

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial