77 Section 76: meaning of “ordinary BLAGAB management expenses” etc
Finance Act 2012 (2012 c 14) | Legislation

77  Section 76: meaning of “ordinary BLAGAB management expenses” etc

(1)     This section explains for the purposes of section 76 what is meant by the “ordinary BLAGAB management expenses of the company referable to the accounting period”.

(2)     Amounts are “ordinary BLAGAB management expenses” of the company if—

(a)     they are, in accordance with generally accepted accounting practice, debited in accounts drawn up by the company for a period of account. . .,

(b)     they are expenses of management of the company's long-term business that are referable, in accordance with Chapter 4, to its basic life assurance and general annuity business, and

(c)

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