LAM15020 - Excess expenses, losses and deficits: Set-off of BLAGAB management expenses: FA12/S73

LAM15020: Excess expenses, losses and deficits: Set-off of BLAGAB management expenses: FA12/S73

Full details of the set-off of BLAGAB I-E management expenses are at LAM04000 onwards.

In summary:

• adjusted BLAGAB management expenses are set against I-E income and net chargeable gains of the period;
• excess expenses can only be carried forward and treated as BLAGAB expenses of the next period;
• this set-off is not subject to loss restriction.