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Official guidance
Life Assurance Manual

LAM03000 · Calculation of 'I' Income and chargeable gains

  • LAM03010 · Income and gains within ‘I’: Overview of tax basis
  • LAM03020 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Steps 1 and 2: Computing ‘I’- overview and identification of assets: FA12/S74-75
  • LAM03030 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 1: What is included as income: FA12/S74
  • LAM03040 · Calculation of ‘I’ Income and chargeable gains: Main sources of BLAGAB investment return – summarised tax treatment
  • LAM03050 · Calculation of ‘I’ Income and chargeable gains: Other potential sources of income and gains: intra-life company and intragroup transfers, substantial shareholdings exemption (SSE)
  • LAM03060 · Calculation of ‘I’ Income and chargeable gains: Loan relationships, derivative contracts and intangible fixed assets: non trading treatment of credits and deficits: FA12/S74(1): FA12/S88 : CTA09/S388-391
  • LAM03070 · Calculation of ‘I’ Income and chargeable gains: Derivatives not treated as loan relationships CTA09/Part 7: FA12/S74(1)(c)
  • LAM03080 · Calculation of ‘I’ Income and chargeable gains: Land and property - separate property business and losses from property business FA12/S74(1)(a)
  • LAM03090 · Calculation of ‘I’ Income and chargeable gains: Miscellaneous income and losses: FA12/S74(1)(j): FA12/S89
  • LAM03100 · Calculation of ‘I’ Income and chargeable gains: Stock lending and Repos: TCGA92/S263B-C, CTA09/S546
  • LAM03200 · Calculation of ‘I’ Income and chargeable gains: Step 2 FA12/S73: Calculating BLAGAB chargeable gains - an overview: FA12/S75
  • LAM03210 · Calculation of ‘I’ Income and chargeable gains: Box transfers: FA12/S116
  • LAM03220 · Calculation of ‘I’ income and chargeable gains: Life companies as chargeable gains group members
  • LAM03230 · Calculation of ‘I’ Income and chargeable gains: Transactions in shares: share pooling rules: FA12/S119-121
  • LAM03300 · Collective investment schemes - annual deemed disposal: overview: TCGA92/S212
  • LAM03310 · Calculation of ‘I’ income and chargeable gains: Collective investment schemes annual deemed disposal – categories of funds: TCGA92/S212
  • LAM03320 · Calculation of ‘I’ Income and chargeable gains: Collective investment schemes not subject to TCGA92/S212
  • LAM03330 · Calculation of ‘I’ Income and chargeable gains: Spreading of deemed disposal gains: TCGA92/S212
  • LAM03340 · Calculation of ‘I’ Income and chargeable gains: Deemed disposals loss offset and carry back: TCGA92/S213(3)
  • LAM03350 · Calculation of ‘I’ Income and chargeable gains: Deemed disposals: cessation/transfer of business; seeding an authorised contractual scheme (ACS): losses on disposal to connected 'authorised fund manager'
  • LAM03400 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 2: Allowable losses that are not BLAGAB allowable losses: FA12/S95: TCGA92/210A
  • LAM03410 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 2: Calculating the shareholders’ share of BLAGAB chargeable gains TCGA92/S210A(2)
  • LAM03420 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 2: Calculating the shareholders’ share of BLAGAB allowable losses: TGGA92/S210A(6)-(9)
  • LAM03430 · Calculation of ‘I’ Income and chargeable gains: Unrelieved General Annuity Business (GAB) losses
  • LAM03500 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 3: Calculate deemed ‘I-E’ receipts FA12/S92
  • LAM03510 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 3: minimum profits test FA12/S93 and S94 adjustments
  • LAM03520 · Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 4: CTA09/S388 deduction for non-trading deficits
  • LAM03600 · Calculation of ‘I’ Income and chargeable gains: Chargeable gains from venture capital limited partnerships (VCIPs) TCGA92/SCH7AD: Overview
  • LAM03610 · Calculation of ‘I’ Income and chargeable gains: Chargeable gains from venture capital limited partnerships (VCIPs) TCGA92/SCH7AD: Acquisition cost of the deemed single asset
  • LAM03620 · Calculation of ‘I’ Income and chargeable gains: Chargeable gains from venture capital limited partnerships TCGA92/SCH7AD: Disposals
  • LAM03630 · Calculation of ‘I’ Income and chargeable gains: Chargeable gains from venture capital limited partnerships TCGA92/SCH7AD: Deemed disposals: computational rules for part-disposals
  • LAM03640 · Calculation of ‘I’ Income and chargeable gains: Chargeable gains from venture capital limited partnerships: Scope and conditions of TCGA92/SCH7AD
  • LAM03650 · Calculation of ‘I’ Income and chargeable gains: Chargeable gains from venture capital limited partnerships TCGA92/Sch7AD: Interaction with other legislation
  • LAM03700 · Calculation of ‘I’ Income and chargeable gains: Transactions in shares: share exchanges (where SSE does not apply)
  • LAM03710 · Calculation of ‘I’ Income and chargeable gains: Transactions in shares: Bed and breakfasting: TCGA92/210B
  • LAM03720 · Calculation of ‘I’ Income and chargeable gains: Transactions in shares: substantial shareholdings exemption (SSE) TCGA92/SCH7AC
  • LAM03730 · Calculation of ‘I’ Income and chargeable gains: Substantial shareholdings exemption (SSE): the interaction of the SSE rules and other life tax rules
  • LAM03740 · Calculation of ‘I’ Income and chargeable gains: Substantial shareholdings exemption (SSE) and chargeable gains on loan relationships and derivative contracts
  1. Calculation of 'I' Income and chargeable gains
  2. Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 4: CTA09/S388 deduction for non-trading deficits

LAM03520 | Calculation of ‘I’ Income and chargeable gains: FA12/S73 Step 4: CTA09/S388 deduction for non-trading deficits

From HM Revenue & Customs · Life Assurance Manual

This final step in calculating ‘I’, deduction of BLAGAB loan relationship deficits is explained in LAM03060.

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