LAM06060 - I-E Profit: Calculation of the tax charge: No reliefs to be given against the policyholders’ share of I-E profits FA12/S127

The policyholders’ share of any I-E profit cannot be reduced by any of the following reliefs

• the set off of BLAGAB trade losses carried forward CTA10/S124 (CTA/124A post 1 April 2017).
• the sideways set of other trade losses of the period CTA10/S37( CTA10/S37A post 1 April 2017).
• the set off of other losses under the provisions of Chapter 2 and Chapter 4 of CTA10.
• group relief of losses of the period CTA10/Part 5.
• group relief of carried forward losses CTA10/Part 5A.
• the set off of charitable donations CTA10/Part 6 (other than when the insurance company is a mutual).
• the set off of any non-trade loan relationship deficit other than that arising from debits and credits referable to BLAGAB (LAM03060).

Relief for the items set out above can be given against the shareholders’ share of I-E profits.