FA12/S77, S81 and S82 Ordinary BLAGAB management 
expenses' referable to the accounting period: based on GAAP compliant accounts, must be 'expenses of 
management', subject to excluded amounts such as claims, reinsurance premiums, other insurance related items and other specific exclusions LAM04020 
 
FA12/S79 spreading of acquisition expenses over 7 years LAM04110 FA12/S80 meaning of acquisition expenses LAM04100 FA12/S78(3) definition of amounts to be treated as if they were management expenses - list includes certain 
general annuity business annuities , loan relationship surplus deficits carried forward and more . Includes spread acquisition expenses from previous years. LAM04200 
FA12/S78(4) expenses reversed in the accounting period LAM04300. 
 
FA12/S78(5) reduces expenses by any BLAGAB trade loss relieved for the accounting period against other trade profits or surrendered as group relief LAM07310 
 FA12/S73 Step 6 amount of excess BLAGAB expenses added LAM04400 plus any minimum profits test amounts FA12/S93(5)(b) LAM07230 

Steps 1-5 are explained in more detail in the sections