Extension of loss relief available in respect of decommissioning expenditureU.K.
5(1)In Chapter 2 of Part 4 of CTA 2010 (relief for trade losses), section 40 (ring fence trades: extension of periods for which relief may be given) is amended as follows.U.K.
(2)In subsection (1)(b), for the words from “for which” to the end substitute “ for which any allowances under section 164 or 403 of CAA 2001 are made to the company in respect of decommissioning expenditure ”.
(3)In subsection (3)—
(a)for “the allowance” substitute “ the sum of the allowances ”, and
(b)for “that allowance” substitute “ that amount ”.
(4)After that subsection insert—
“(3A)In this section “decommissioning expenditure” has the meaning given by section 330C.”