Part 8Oil activities
F1CHAPTER 8Supplementary charge: onshore allowance
Annotations:
Amendments (Textual)
Reduction of adjusted ring fence profits
356DACarrying forward of activated allowance
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.
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