LAM04400 - Calculating ‘E’ adjusted BLAGAB management expenses: Step 5: The adjusted BLAGAB management expense

The final step to arrive at ‘E’ is to add any excess BLAGAB expenses carried forward from the previous accounting period, resulting either from a negative amount at step 6 of the I-E calculation (see LAM02060) or arising from an adjustment required following the application of the minimum profits test (FA12/S93(5)) (see LAM07230) The example in LAM04500 illustrates this.