LAM07000 - Trade Profits

This manual has yet to be updated for the interest restriction and changes to relief for carried forward losses introduced by Finance (No.2) Act 2017.

1. LAM07010

   Introduction - BLAGAB and non-BLAGAB trade profits and losses: FA12/S66
2. LAM07020

   Financial Statements: GAAP for insurance companies: CTA09/S35
3. LAM07030

   Financial statements: valuation of technical provisions
4. LAM07040

   Financial statements and tax rules: deferred acquisition costs, deferred income reserves and the value of in force business: FA12/SCH17/PARA22
5. LAM07050

   Financial statements: the fund for future appropriations (FFA) and unallocated divisible surplus (UDS)
6. LAM07100

   Taxable investment income and gains
7. LAM07110

   Deductible expenditure FA12/S110 bonuses: capital expenditure: FA12/S112 index-linked gilts
8. LAM07120

   Intangible fixed assets: FA12/S130 and CTA09/S806
9. LAM07130

   Transitional amounts: FA12/SCH17
10. LAM07140

    Capital contributions
11. LAM07150

    Capital allowances: BLAGAB CAA01/S545(2); non-BLAGAB CAA01/S544(2)
12. LAM07200

    BLAGAB trade profits: overview
13. LAM07210

    BLAGAB trade profits: deduction for current and deferred policyholder tax: FA12/S106
14. LAM07220

    BLAGAB trade profits: expenses or receipts for deferred policyholder tax: FA12/S107
15. LAM07230

    BLAGAB trade profits: minimum profits test: FA12/S93
16. LAM07300

    Trading losses: non-BLAGAB
17. LAM07310

    Trading losses: BLAGAB: FA12/S123-127