LAM08000 | Full example computation

From HM Revenue & Customs · Life Assurance Manual

This manual has yet to be updated for the interest restriction and changes to relief for carried forward losses introduced by Finance (No.2) Act 2017.

A fully worked example of a tax computation for a life insurance company.

This includes the following schedules.

Computation Index

Schedule	Computation	Links to supporting narrative
A1	BLAGAB I-E computation	LAM03010 – income and gains
	LAM04010 - expenses
A2	Minimum profits charge	LAM03510
A3	BLAGAB management expenses	LAM04010
A4	BLAGAB trade computation	LAM07010
A5	Non-BLAGAB trade computation	LAM07010
A6	Long-term business fixed capital	LAM11010
A7	Policyholders’ share of I-E	LAM06010
A8	Overall tax calculation
A9	Tax liability
B1	Double tax relief - summary	LAM09010
B2	DTR foreign income – BLAGAB	LAM09010
B3	DTR foreign income – non-BLAGAB	LAM09010
G	Capital gains and losses	LAM03200