LAM06060 - I-E Profit: Calculation of the tax charge: No reliefs to be given against the policyholders鈥� share of I-E profits FA12/S127

The policyholders鈥� share of any I-E profit cannot be reduced by any of the following reliefs

  • the set off of BLAGAB trade losses carried forward CTA10/S124 (CTA/124A post 1 April 2017).
  • the sideways set of other trade losses of the period CTA10/S37( CTA10/S37A post 1 April 2017).
  • the set off of other losses under the provisions of Chapter 2 and Chapter 4 of CTA10.
  • group relief of losses of the period CTA10/Part 5.
  • group relief of carried forward losses CTA10/Part 5A.
  • the set off of charitable donations CTA10/Part 6 (other than when the insurance company is a mutual).
  • the set off of any non-trade loan relationship deficit other than that arising from debits and credits referable to BLAGAB (LAM03060).

Relief for the items set out above can be given against the shareholders鈥� share of I-E profits.