SCHEDULES

F1SCHEDULE 19BPetroleum extraction activities: exploration expenditure supplement

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Amendments (Textual)

Part 2Application and interpretation

8Taxable ring fence profits of an accounting period

For the purposes of this Schedule, a company has taxable ring fence profits for an accounting period if it has an amount of ring fence profits which is chargeable to corporation tax for that accounting period after any group relief claimed under Chapter 4 of Part 10.