Capital Allowances Act 2001 (c. 2)

Part 2 U.K. Plant and machinery allowances

Modifications etc. (not altering text)

C1 Pt. 2 (ss. 11-270) modified (prosp.) by Proceeds of Crime Act 2002 (c. 29), ss. 448, 458(1), Sch. 10 para. 12 (with para. 17(1))

Chapter 13 U.K. Provisions affecting mining and oil industries

Provisions relating to ring fence trades U.K.

162 Ring fence trade a separate qualifying activity U.K.

(1) If a person carries on a ring fence trade, it is a separate qualifying activity for the purposes of this Part.

(2) In this Chapter “ring fence trade” means activities which—

(a) fall within any of paragraphs (a) to (c) of section 492(1) of ICTA (oil extraction activities, the acquisition, enjoyment or exploitation of oil rights, etc.), and

(b) constitute a separate trade (whether as a result of section 492(1) of ICTA or otherwise).