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Corporation Tax Act 2010

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Changes over time for: Section 334

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Version Superseded: 26/03/2015

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Status:

Point in time view as at 17/07/2014. This version of this provision has been superseded. Help about Status

Changes to legislation:

Corporation Tax Act 2010, Section 334 is up to date with all changes known to be in force on or before 24 January 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

334Company's pool of field allowancesU.K.
This section has no associated Explanatory Notes

A company's pool of field allowances for an accounting period (“the relevant accounting period”) is—

where—

P is the amount of the company's pool of field allowances for the previous accounting period that has been carried into the relevant accounting period (see sections 335 and 336), and

R is the aggregate of the amounts of field allowances for [F2eligible oil fields] which the company holds (see sections 337 to 339) that are activated in respect of—

(a)

the relevant accounting period (see sections 340 and 341), and

(b)

reference periods that fall within the relevant accounting period (see sections 342 to 344).

Textual Amendments

F2Words in s. 334 substituted (1.4.2013) by Finance Act 2012 (c. 14), Sch. 22 paras. 2, 21(2); S.I. 2013/744, art. 2

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