LAM04300 - Calculating 바카라 사이트楨바카라 사이트� adjusted BLAGAB management expenses: Step 4: Calculate the basic amount: FA12/S76

Step 4 calculates the basic amount of BLAGAB management expenses as follows:

  • add ordinary BLAGAB management expenses from step 1, as adjusted at step 2, and
  • deemed management expenses from step 3 then
  • deduct any 바카라 사이트渆xpenses reversed in the accounting period바카라 사이트� and
  • deduct any BLAGAB trade loss relieved for the accounting period

The deductions for expenses reversed and BLAGAB trade loss relieved can make 바카라 사이트楨바카라 사이트� negative.

An example calculation is set out in LAM04500

FA12/S78(4) defines 바카라 사이트榚xpenses reversed in the accounting period바카라 사이트� as those which were:

바카라 사이트榬elieved in any previous accounting period in accordance with step 1 (as read with step 2) or step 3 of s76바카라 사이트�

but which are subsequently reversed in the accounting period바카라 사이트�.

The use of the word 바카라 사이트榬elieved바카라 사이트� is significant. It is only expenses which have actually been relieved which are treated as reversed: acquisition expenses which have been spread but have not yet been relieved are not treated as reversed.

FA12/S79(9) separately provides that any acquisition expenses reversed in an accounting period or an earlier accounting period must not count as deemed acquisition expenses for the accounting period in question. This ensures that, while the adjustment at Step 4 of FA12/S76 claws back any relief which has been given, no further relief is given. See example LAM04120.

BLAGAB trade loss relieved for the accounting period means a BLAGAB trade loss

  • relieved against total income of the accounting period (CTA10/S37) 바카라 사이트揊A12/123
  • group relieved under CTA10/Part5/CH4 FA12/S125
  • brought forward from the previous accounting period and relieved against total profits under FA12/S124B

Guidance on BLAGAB trade losses is in LAM07310.