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Finance Act 2008

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Finance Act 2008, Paragraph 6 is up to date with all changes known to be in force on or before 26 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

6(1)Section 165 (abandonment expenditure within 3 years of ceasing ring fence trade) is amended as follows.U.K.

(2)In the heading, for “abandonment expenditure” substitute “ general decommissioning expenditure ”.

(3)In subsection (1)(b) and (c), for “abandonment expenditure” substitute “ general decommissioning expenditure ”.

(4)In subsection (3)—

(a)in paragraph (a), for “relevant abandonment cost” substitute “ relevant decommissioning cost ”, and

(b)in paragraph (b), for “abandonment expenditure” substitute “ general decommissioning expenditure ”.

(5)In subsection (4), in the definition of “the relevant abandonment cost”—

(a)for “relevant abandonment cost” substitute “ relevant decommissioning cost ”, and

(b)for “abandonment expenditure”, in each place, substitute “ general decommissioning expenditure ”.

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