SCHEDULES
SCHEDULE 17Part 2: transitional provision
PART 2Specific transitional provisions
Relief for BLAGAB trade losses for accounting period beginning on or after 1 January 2013
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1
This paragraph applies if—
a
an insurance company carries on basic life assurance and general annuity business in an accounting period beginning on or after 1 January 2013, and
b
the company has a BLAGAB trade loss for the accounting period.
2
For the purposes of section 37(6) of CTA 2010 (as applied by section 123) the company is to be treated as carrying on that business in a previous accounting period if the company carried on life assurance business in that period.