Corporation Tax Act 2010

Oil Taxation Act 1983 U.K.

180 U.K. The Oil Taxation Act 1983 is amended as follows.

181 U.K. In section 6(4A)(b) (amounts which are not chargeable tariff receipts) for “section 492(1) of the Income and Corporation Taxes Act 1988” substitute “ the definition of “oil-related activities” in section 274 of the Corporation Tax Act 2010 ”.

182 U.K. In section 15(4) (interpretation etc) for “Section 839 of the Taxes Act” substitute “ Section 1122 of the Corporation Tax Act 2010 ”.

183 U.K. In paragraph 8(2B)(b) of Schedule 1 (allowable expenditure: use of new asset otherwise than in connection with taxable field) for “section 492(1) of the Income and Corporation Taxes Act 1988” substitute “ the definition of “oil-related activities:rdquo: in section 274 of the Corporation Tax Act 2010 ”.

184 (1) Amend Schedule 2 (supplemental provisions as to receipts from qualifying assets) as follows. U.K.

(2) In paragraph 11(2) for “section 500 of the Taxes Act” substitute “ sections 299 to 301 of the Corporation Tax Act 2010 ”.

(3) In paragraph 11(3)(a) for “section 416 of the Taxes Act” substitute “ sections 450 and 451 of the Corporation Tax Act 2010 ”.

(4) In paragraph 12(1) for “section 500 of the Taxes Act” substitute “ sections 299 to 301 of the Corporation Tax Act 2010 ”.