Part 8 U.K. Oil activities

Chapter 5 U.K. Ring fence expenditure supplement

Application and interpretation U.K.

314 Taxable ring fence profits for an accounting period U.K.

For the purposes of this Chapter, 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 Part 5 (group relief).