Related Commentary  Related HMRC Manuals

75(1)  This section explains for the purposes of section 73 how to calculate the BLAGAB chargeable gains of the company for the accounting period as adjusted for allowable losses.

Step 1

First, calculate the chargeable gains–

(a)that accrue to the company in the accounting period from the disposal of assets held for the purposes of the company's long-term business, and

(b)that are referable, in accordance with Chapter 4, to its basic life assurance and general annuity business.

Step 2

Then, deduct from the amount of those gains–

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.