Corporation Tax Act 2010 (c. 4)

Part 8 U.K. Oil activities

[F1 CHAPTER 8 U.K. Supplementary charge: onshore allowance

Textual Amendments

F1 Pt. 8 Ch. 8 inserted (with effect in accordance with Sch. 15 paras. 6(1), 9(2) of the amending Act) by Finance Act 2014 (c. 26), Sch. 15 para. 3

Reduction of adjusted ring fence profits U.K.

356DA Carrying forward of activated allowance U.K.

(1) This section applies where, in the case of a company and an accounting period—

(a) the cumulative total amount of activated allowance (see section 356D(2)), is greater than

(b) the adjusted ring fence profits.

(2) The difference is carried forward to the next accounting period.]