SCHEDULES
SCHEDULE 35Set off against oil profits: minor and consequential amendments
TMA 1970
F41
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ICTA
2
ICTA is amended as follows.
F13
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F14
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F15
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F16
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
In section 826 (interest on tax overpaid), in subsection (7A)(b), after “set off” insert “
(whether under section 393A(1) or 393B(3))
”
.
8
1
Schedule 19B (petroleum extraction activities: exploration expenditure supplement) is amended as follows.
2
In paragraph 1 (provision about the Schedule), in sub-paragraph (7)(b), after “section 393A” insert “
or 393B
”
.
3
In paragraph 17 (ring fence losses and qualifying E&A losses), in sub-paragraph (2)—
a
the words after “assumed” become sub-paragraph (a), and
b
at the end of that sub-paragraph insert
and—
b
that (where appropriate) section 393B applies in relation to every such claim.
F29
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FA 2000
F310
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .