D7.435 Calculating the I-E profit
The legislation contains a comprehensive set of rules for calculating whether a company that writes BLAGAB has an I-E profit or excess BLAGAB expenses (effectively representing an I-E 'loss') using a six step process.
Step 1 requires the calculation of the chargeable income for the accounting period that is referable to BLAGAB under the company's commercial allocation methodology (see 'Allocating income, losses and expenses for the I-E basis' at D7.431).
Step 2 requires the calculation of BLAGAB chargeable gains (see 'Allocating chargeable gains for the I-E basis' at D7.431) adjusted for allowable losses.
Step
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