Relief is available as a deemed management expense for qualifying BLAGAB annuities paid in an accounting period1. The amount of relief due is the difference between the total amount of such annuities paid by the company in the accounting period and the total of the amounts exempted under ITTOIA 2005, s 717 (on the assumption that the excluded annuities exemption does not apply2)3.
The term 'qualifying BLAGAB annuity' refers to any BLAGAB annuity paid under a contract made by an insurance company in an accounting period beginning on or after 1 January 19924.
There is anti-avoidance legislation to prevent companies securing an enhanced
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:46