Finance Act 2015 (c. 11)

SCHEDULES

SCHEDULE 11 U.K. Extension of ring fence expenditure supplement

Abolition of extended ring fence expenditure supplement for onshore activities U.K.

11 U.K. In section 270 of CTA 2010 (overview of Part 8) omit subsection (5A).

12 (1) Schedule 4 to CTA 2010 (index of defined expressions) is amended as follows. U.K.

(2) The following definitions are inserted at the appropriate places—

“the initial 6 periods (in Chapter 5 of Part 8)

section 311(1A)”;

“the additional 4 periods (in Chapter 5 of Part 8)

section 311(1A)”.

(3) The following definitions are omitted—

“the commencement period (in Chapter 5A of Part 8)

section 329D(1)”;

“offshore oil-related activities (in Chapter 5A of Part 8)

section 329C(3)”;

“onshore oil-related activities (in Chapter 5A of Part 8)

section 329C(2)”;

“onshore ring fence loss (in Chapter 5A of Part 8)

section 329P”;

“the onshore ring fence pool (in Chapter 5A of Part 8)

section 329Q”;

“the period of the loss (in Chapter 5A of Part 8)

section 329P”;

“post-commencement additional supplement (in Chapter 5A of Part 8)

section 329N(1)”;

“the post-commencement additional supplement provisions (in Chapter 5A of Part 8)

section 329N(4)”;

“post-commencement period (in Chapter 5A of Part 8)

section 329D(1)”;

“pre-commencement additional supplement (in Chapter 5A of Part 8)

section 329I(1)”;

“pre-commencement period (in Chapter 5A of Part 8)

section 329D(1)”;

“qualifying company (in Chapter 5A of Part 8)

section 329B”;

“qualifying pre-commencement onshore expenditure (in Chapter 5A of Part 8)

section 329G”;

“the relevant percentage (in Chapter 5A of Part 8)

section 329E”;

“straddling period (in Chapter 5A of Part 8)

section 329D(3)”;

“unrelieved group ring fence profits (in Chapter 5A of Part 8)

section 329H”.

13 (1) In Part 8 of CTA 2010, Chapter 5A (extended ring fence expenditure supplement for onshore activities) is repealed. U.K.

(2) Accordingly, section 69 of and Schedule 14 to FA 2014 are also repealed.