[F1Amount of restored lossU.K.
Textual Amendments
F1Sch. A1 inserted (with effect in accordance with Sch. 25 para. 9 of the amending Act) by Finance Act 2008 (c. 9), Sch. 25 para. 5
26(1)The amount of the restored loss is—U.K.
but where the amount given by that formula is less than nil, the amount of the restored loss is nil.
(2)In sub-paragraph (1)—
LS is the amount of loss surrendered under this Schedule in the chargeable period for which the first-year tax credit was paid,
OERPM is the amount (or the aggregate of the amounts) of the original expenditure on the retained tax-relieved plant and machinery after the item is disposed of,
OE is the aggregate of the amount of the original expenditure on the item disposed of, and the amounts of the original expenditure on any items of tax-relieved plant and machinery which the company has previously disposed of,
DV is the aggregate of the disposal value of the item disposed of, and the disposal values of any items of tax-relieved plant and machinery which the company has previously disposed of, and
ARL is the amount of the restored loss (or the aggregate of the amounts of the restored loss) on any previous application of this paragraph.]