## A1 - Blagab I Minus E Computation (Lam03000)



Total  
Step 1 - BLAGAB income 
Property business *(LAM3090)* Loan relationship and derivative income 
(LAM03070) 
47,701 527,136 574,837 


Net chargeable gains  *(LAM03200*)                                      
         (G) 
230,333 
Step 2 - BLAGAB chargeable gains less losses 


Sundry receipts *(LAM03100)* Minimum profits charge  (A2) *(LAM03500*)                  
455 9,500 9,955 
Step 3 - Sundry receipts and minimum profits charge 


821,247 (2,501) 
Sum of steps 1 - 3 Non-trading deficit *(LAM03070)* 'I' 818,746 
Step 4 - Sum of steps 1 - 3, deduct any BLAGAB nontrading deficit. 
Result is 'I' 

(A3)        (288,650) 
Less BLAGAB management expenses 
(LAM04000) 
Step 5 - Adjusted BLAGAB management expenses 'E' 


Step 6 - subtract 
'E' from 'I' 
I minus E profit / (excess BLAGAB expenses) 
Less non-BLAGAB allowable losses under s95 FA 2012 *(LAM03400)* (A8) (6,122) 
536,218 530,096 
 


## A2 - Minimum Profits Charge (Lam03510)

|                                      |
|--------------------------------------|
| Total                                |
| 530,096                              |
| (9,500)                              |
| 118,577                              |
| I minus E profit                     |
| (A1)                                 |
|                                      |
| Ignore minimum profits charge        |
| Add BLAGAB non-taxable distributions |
|                                      |
|                                      |
|                                      |
|                                      |
| 639,173                              |
| Adjusted I- E profit /               |
| excess BLAGAB                        |
| expenses                             |
|                                      |
|                                      |
| BLAGAB trade profit                  |
| (A4)                                 |
|                                      |
| Less BLAGAB trade loss b/f           |
|                                      |
| 650,273                              |
| (1,600)                              |
|                                      |
| Adjusted BLAGAB                      |
| trade profit                         |
|                                      |
|                                      |
|                                      |
| 648,673                              |
|                                      |
| (A1)                                 |
|                                      |
| 9,500                                |
| 1                                    |
|                                      |
|                                      |
| Minimum profits charge               |
|                                      |
| Compare the                          |
| adjusted BLAGAB                      |
| trade profit with                    |
| adjusted I- E profit                 |

## A3 - Blagab Management Expenses (Lam04000)



Total 
Ordinary BLAGAB management expenses 
 
109,620 
Step 1 - Company's ordinary BLAGAB management 
expenses of the AP  
 
Step 2 less six-sevenths of the acquisition expenses of the period (42,500) 67,120 Spreading of acquisition expenses Capital allowances on management assets Transitional relief for old annuity contracts 169,150 22,500 8,350 200,000 Step 3 - deemed BLAGAB management expenses - FA2012/S78(3) Sum of steps 1 to 3 Deduct relief previously given for expenses repaid in the AP Adjust for BLAGAB trade loss relieved 267,120 (3,600) 0 263,520 Step 4 - total of steps 1-3, adjust for expenses reversed in the AP and BLAGAB trade loss utilised Step 5 - add management expenses brought forward to the sum of step 4 12,500 12,630 
        (A1) 25,130 
288,650 Management expenses brought forward Minimum profits charge of previous AP Adjusted BLAGAB management expenses 
 

                                                          
 
1 The Minimum Profits Charge is carried forward to the next accounting period as an excess management expense 

## A4 - Blagab Trade (Lam07000)

|                                           |         |
|-------------------------------------------|---------|
|                                           |         |
| Total                                     |         |
| Profit before tax                         |         |
|                                           |         |
|                                           | 677,211 |
| Accounting profit                         |         |
| before tax                                |         |
|                                           |         |
|                                           |         |
|                                           |         |
| Adjustments to                            |         |
| accounting profit                         |         |
| 9,430                                     |         |
| (27,350)                                  |         |
| 11,620                                    |         |
| (1,350)                                   |         |
| (19,288)                                  |         |
| nil                                       |         |
| Disallowed expenses                       |         |
| Capital allowances - management assets    |         |
| Pre 2013 Deferred Acquisition Costs (DAC) |         |
| Pre 2013 Deferred income                  |         |
| Transitional receipt/(expense)            |         |
| Policyholder tax adjustment (A7)          |         |
|                                           |         |
|                                           |         |
|                                           |         |
| LAM07150                                  |         |
|                                           |         |
| LAM07150                                  |         |
|                                           |         |
|                                           |         |
| LAM07040                                  |         |
| LAM07040                                  |         |
| LAM07130                                  |         |
| LAM07210                                  |         |
|                                           |         |
| (26,938)                                  |         |
| BLAGAB trade profit                       |         |
| BLAGAB trade                              |         |
| profit for tax                            |         |
|                                           |         |
| BLAGAB trade loss brought forward         |         |
|                                           |         |
| (1,600)                                   |         |
|                                           |         |
| (A2) (A7)                                 |         |
|                                           |         |
| LAM07310                                  |         |
|                                           |         |
| 648,673                                   |         |
|                                           |         |
| Less BLAGAB                               |         |
| trade loss                                |         |
| brought forward                           |         |
|                                           |         |

## A5 - Non-Blagab Trade (Lam07000)

|                                           |         |
|-------------------------------------------|---------|
|                                           |         |
| Total                                     |         |
| Loss before tax                           |         |
|                                           |         |
|                                           | (6,253) |
| Accounting                                |         |
| profit/loss  before                       |         |
| tax                                       |         |
|                                           |         |
|                                           |         |
|                                           |         |
| Adjustments to                            |         |
| accounting profit                         |         |
| 3,650                                     |         |
| (2,460)                                   |         |
| 10,340                                    |         |
| (7,630)                                   |         |
| 4,350                                     |         |
| Disallowed expenses                       |         |
| Capital allowances - management assets    |         |
| Pre 2013 Deferred Acquisition Costs (DAC) |         |
| Pre 2013 Deferred income                  |         |
| Transitional receipt/(expense)            |         |
|                                           |         |
|                                           |         |
|                                           |         |
|                                           |         |
|                                           |         |
|                                           |         |
|                                           |         |
| 8,250                                     |         |
|                                           |         |
|                                           |         |
| Non-BLAGAB trade profit/loss before       |         |
| foreign tax                               |         |
| Foreign tax deducted                      |         |
|                                           |         |
| 1,997                                     |         |
|                                           |         |
| (7,602)                                   |         |
|                                           |         |
|                                           |         |
|                                           |         |
| Non-BLAGAB trade loss                     |         |
|                                           |         |
| (5,605)                                   |         |
|                                           |         |
|                                           |         |
| Non-BLAGAB loss                           |         |
| for tax                                   |         |
|                                           |         |
| Less offset against other profits         |         |
| (A8)                                      |         |
|                                           |         |
| (5,605)                                   |         |
|                                           |         |
|                                           |         |
|                                           | Nil     |
| (5,840)                                   |         |
| Non-BLAGAB                                |         |
| trade losses                              |         |
| Current period loss carried forward       |         |
| Non-BLAGAB trade loss brought forward     |         |
|                                           |         |
|                                           |         |

## A6 - Long-Term Business Fixed Capital And Other Non-Trade (Lam11000)

 
LTBFC contains structural assets and those grandfathered from pre 1 January 2013 shareholders' funds. Tax rules 
applicable to investment companies 
apply.    
Total 
21,540 7,660 655 (655) (5,880) (1,250) 
22,070 Loan relationships and derivative income Non-trading gain on intangible assets Chargeable gains Capital losses not arising from BLAGAB Management expenses Non-trading loan relationship deficit brought forward CTA2009/S457(1) Profit / (loss)                                            (A8) 

## A7 - Policyholders' Share Of I Minus E Profit (Lam06000)

 Policyholders' share calculation 
Adjusted amount of BLAGAB trade profit Shareholders' share of BLAGAB nontaxable 
distributions 
Total 530,096 (530,096) nil 648,673 (118,577) 530,096 118,577 118,577 I minus E profit                                               (A1) Reduced by adjusted BLAGAB trade profit(below) Policyholders' share                                       (A8) 
 
BLAGAB trade profit reduced by brought forward losses (A4) Reduced by shareholders share of BLAGAB non-taxable distributions Adjusted BLAGAB trade profit 
 
BLAGAB non-taxable distributions (A2) 
Shareholders' share of BLAGAB non-taxable 
distributions (LAM05050) 

## A8 - Tax Calculation

|                        | LTBFC     |           | Total per return     |        |         |                | BLAGAB            |
|------------------------|-----------|-----------|----------------------|--------|---------|----------------|-------------------|
| I - E                  |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (A1)                   |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (A6)                   |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| 527,136                |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| 21,540                 |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| 548.676                |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| Non-trade loan         |           |           |                      |        |         |                |                   |
| relationship           |           |           |                      |        |         |                |                   |
| income                 |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| Property business      |           |           |                      |        |         |                |                   |
| (A1)                   |           |           |                      |        |         |                |                   |
|                        | 47,701    |           |                      |        | 47,701  |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (A1)                   |           |           |                      |        |         |                |                   |
|                        | 9,955     |           |                      |        | 9,955   | Sundry and     |                   |
| minimum profits        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| Profits before gains   |           |           |                      |        |         |                |                   |
| (A1)                   |           |           |                      |        |         |                |                   |
|                        | 584,792   |           |                      |        |         |                |                   |
| (A6)                   |           |           |                      |        |         |                |                   |
| 21,540                 |           | 606,332   |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (G)                    |           |           |                      |        |         |                |                   |
|                        | 236,455   |           | 0                    |        | 236,455 | Net chargeable |                   |
| gains                  |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (A6)                   |           |           |                      |        |         |                |                   |
| 7,660                  |           | 7,660     | Non-trading gain on  |        |         |                |                   |
| intangible fixed       |           |           |                      |        |         |                |                   |
| assets                 |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| Non trading deficit    |           |           |                      |        |         |                |                   |
| on loan relationship   |           |           |                      |        |         |                |                   |
|                        |           |           | (2,501)              |        |         |                |                   |
| (A1)                   |           |           |                      |        |         |                |                   |
|                        | (2,501)   |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (A3)                   |           |           |                      |        |         |                |                   |
|                        | (288,650) |           |                      |        |         |                |                   |
| (A6)                   |           |           |                      |        |         |                |                   |
| (5,880)                |           | (294,530) | Management           |        |         |                |                   |
| expenses               |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (A6)                   |           |           |                      |        |         |                |                   |
| (1,250)                |           | (1,250)   | Non-trading loan     |        |         |                |                   |
| relationship deficits  |           |           |                      |        |         |                |                   |
| brought forward        |           |           |                      |        |         |                |                   |
| CTA09/S457(1)          |           |           |                      |        |         |                |                   |
|                        |           |           | _______              |        | ______  | ______         |                   |
|                        |           |           |                      |        |         |                |                   |
| (A1)                   |           |           |                      |        |         |                |                   |
| 530,096                |           |           |                      |        |         |                |                   |
| (A6)                   |           |           |                      |        |         |                |                   |
| 22,070                 |           | 552,166   | Net profits before   |        |         |                |                   |
| reliefs                |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           | 530,096   |                      | 22,070 |         | 552,166        |                   |
| Shareholders'          |           |           |                      |        |         |                |                   |
| profits before reliefs |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (A5)                   |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| Less trading losses    |           |           |                      |        |         |                |                   |
| CTA10/S37 (non-        |           |           |                      |        |         |                |                   |
| BLAGAB)                |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| Group relief           |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (5,605)                |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (120,650               |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (5,605)                |           |           |                      |        |         |                |                   |
| 2                      |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| (120,650)              |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
| ______                 |           |           |                      |        |         |                |                   |
| _                      |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                        |           |           |                      |        |         |                |                   |
|                       |     | 403,841    |         | 22,070    |
|-----------------------|-----|------------|---------|-----------|
| (A9)                  |     |            |         |           |
| 425,911               |     |            |         |           |
| Shareholders'         |     |            |         |           |
| share of profits      |     |            |         |           |
|                       |     |            |         |           |
|                       |     |            |         |           |
| (A7)                  |     |            |         |           |
| nil                   |     |            |         |           |
| (A9)                  |     |            |         |           |
| nil                   |     |            |         |           |
| Policyholders'        |     |            |         |           |
| share of profits      |     |            |         |           |
|                       |     |            | _______ |           |
| Total taxable profits |     |            |         |           |
| 403,841               |     | 22,070     |         | 425,911   |
|                       |     |            |         |           |
|                       |     |            |         |           |
|                       |     |            |         |           |
|                       |     |            |         |           |
|                       |     |            |         |           |

## A9 - Tax Liability

|                                    |            | Tax       |         | Profit    |        | Rate               |
|------------------------------------|------------|-----------|---------|-----------|--------|--------------------|
| Corporation tax                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
| On policyholders' share of profits |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
| 2016                               |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           | 20.00% |                    |
| 2017                               |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           | 20.00% |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
| Tax on policyholders' profit       |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    | nil        |           |         |           |        |                    |
| (A8)                               |            |           |         |           |        |                    |
| nil                                |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
| On shareholders' profits           |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
| 2016                               |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    | 21,016.20  |           | 105,081 | 20.00%    |        |                    |
| 2017                               |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    | 60,957.70  |           | 320,830 | 19.00%    |        |                    |
|                                    |            |           |         |           |        |                    |
| Tax on shareholders' profits       |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    | 82,063.90  |           |         |           |        |                    |
| (A8)                               |            |           |         |           |        |                    |
| 425,911                            |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
| Tax before DTR                     |            | 82,063.90 |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
| DTR relief                         |            |           |         |           |        |                    |
| (B)                                |            |           |         |           |        |                    |
| (1,112)                            |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    | (3,556.10) |           |         |           |        | Income Tax set off |
|                                    |            |           |         |           |        |                    |
| Corporation tax liability          |            |           |         |           |        |                    |
| 77,395.8                           |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |
|                                    |            |           |         |           |        |                    |

## B1 - Double Tax Relief - Summary (Lam09000)

| Category    | Relevant    | Foreign    | Creditable    |   Actual  | Tax deductible    |
|-------------|-------------|------------|---------------|-----------|-------------------|
| income      | tax         | tax before |               |           |                   |
| Excess      |             |            |               |           |                   |
| foreign     | creditable  |            |               |           |                   |
| limitations | tax         | tax        |               |           |                   |
| BLAGAB (B2) | 81,420      | 1,112      | 1,112         |        0  |                   |
| (A9)        |             |            |               |           |                   |
| 1,112       | 0           |            |               |           |                   |
| Non-BLAGAB  | 302,897     | 7,602      | 6,700         |      902  |                   |
| (A9)        |             |            |               |           |                   |
| 0           |             |            |               |           |                   |
|             |             |            |               |           |                   |
| 7,602       |             |            |               |           |                   |
| (B3)        |             |            |               |           |                   |
| Total       | 384,317     | 8,714      | 7,812         |        0  | 1,112             |
| (A5)        |             |            |               |           |                   |
| 7,602       |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |
|             |             |            |               |           |                   |

## B2 - Foreign Income - Blagab

Source 
Relevant 
Foreign 
Rate 
Foreign 
Appropriate 
Income 
Relevant 
Income 
Actual 
income 
tax 
% 
tax to 
Excess 
foreign 
fraction of 
above 
fraction 
restricted 
Maximum 
creditable 
creditable 
20.25% 
tax 
relevant 
expenses 
of profits 
to profits 
tax 
tax 
expenses  
TIOPA 
TIOPA 
(TRE x RI/TI) 
2010 s100 
2010 s101 
Overseas 
19,230 
260 
1.38 
260 
0 
17,250 
1,980 
15,631 
1,980 
400 
260 
shares 
Overseas 
62,190 
852 
1.37 
852 
0 
55,772 
6,418 
50,551 
6,418 
1,296 
852 
debentures 
Total 
81,420 


1,112 

## B3 - Foreign Income - Non Blagab

A 
B 
C 
D 
E 
F 
G 
H 
I 
J 
K 
L 
Source 
Relevant 
Foreig
Rate 
Foreig
Appropriate 
Income 
Relevant 
Income 
Actual 
income 
n tax 
n tax 
Excess 
foreign 
fraction of 
above 
fraction of 
restricted to 
Maximum 
creditable 
creditable tax 
to 
tax 
relevant 
expenses 
profits 
profits TIOPA 
tax 
20.25% 
expenses  (TRE 
TIOPA 2010 
2010 s101 
x RI/TI) 
s100 
Overseas 
100 
15 
15% 
15 
0 
67.37 
32.63 
(1) 
0 
0 
0 
shares 
Overseas 
18,997 
4,749 
25% 
3,847 
902 
12,798 
6,199 
(352) 
0 
0 
0 
preference 
shares 
Overseas 
283,800 
2,838 
1% 
2,838 
0 
191,196 
92,604 
(5251) 
0 
0 
0 
debentures 
 
Total 
302,897 


0 

## G - Capital Gains And Losses (Lam03200)



(below) 
 
(A1) 
 
Capital gains 
BLAGAB chargeable gains TCGA/S212 Total before losses offset BLAGAB losses Net capital gains 
Capital losses 
BLAGAB losses arising TCGA/S212 losses arising 
Total 89,556 221,621  *(LAM03300)* 311,117 (68,540) 
236,455 
22,875 45,665 68,540 
 

##