Related Commentary  Related HMRC Manuals

78(1)  This section explains for the purposes of section 76 what is meant by–

“other relevant rules”,

“deemed BLAGAB management expenses for the accounting period”,

“expenses reversed in the accounting period”, and

“BLAGAB trade loss relieved for the accounting period”.

78(2)  An expense is deductible under another “relevant rule” if–

(a)it is deductible as a result of section 92(3),

(b)it is deductible in calculating, for corporation tax purposes, the profits of a property business, or

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