Commentary

D7.562 Carry forward of excess expenses

Corporate tax
Corporate tax | Commentary

D7.562 Carry forward of excess expenses

Corporate tax | Commentary

D7.562 Carry forward of excess expenses

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.

Management expenses of a life insurance company cannot be surrendered to other group companies by way of group relief so excess expenses are carried forward to the following accounting period and become part of the expense deduction for that period.

If the expenses deduction for the accounting period exceeds the BLAGAB income and gains after any reduction due to the offset of non-trading loan relationship deficits, the

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