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LAM15130 | Excess expenses, losses and deficits: Set-off BLAGAB UK property and overseas property  business losses: FA12/S87

From HM Revenue & Customs · Life Assurance Manual

An overall net loss arising from BLAGAB property businesses (LAM03080) is treated as a deemed management expense of the period (FA12/S87(3)) and set off as outlined in LAM15020.