Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 8: Oil activities

Chapter 5: Ring fence expenditure supplement

Section 316: The mixed pool of qualifying pre-commencement expenditure and supplement previously allowed

1052. This section sets out how the pool of expenditure that qualifies for pre-commencement supplement is determined. It is based on paragraph 10 of Schedule 19C to ICTA.

1053. The pool can include amounts carried forward from the exploration expenditure supplement in Schedule 19B to ICTA.