Related Commentary  Related HMRC Manuals

89(1)  In the application of the I – E rules for an accounting period in relation to an insurance company's basic life assurance and general annuity business, BLAGAB miscellaneous income of the company for the period is to count as income for the purposes of those rules only in so far as it exceeds BLAGAB miscellaneous losses of the company for the period.

89(2)  If for an accounting period the BLAGAB miscellaneous losses exceed the BLAGAB miscellaneous income, the excess–

(a)is carried forward to the next accounting period, and

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