# Finance Act 2012, Section 123: Relief for BLAGAB trade losses against total profits


(1) Section 37 of CTA 2010 (relief for trade losses against total profits) is to apply in relation to a BLAGAB trade loss for an accounting period as it applies in relation to any other loss made in a trade for an accounting period.
(2) Subsection (1) applies despite the fact that, had there been a BLAGAB trade profit for the accounting period, that profit would not have been charged to tax under section 35 of CTA 2009 and the I - E rules would have been applicable instead.

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Source: https://www.legislation.gov.uk/ukpga/2012/14/section/123 (the official version)
Page: https://openlegislation.uk/finance-act-2012/section-123
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.