Part 2 Plant and machinery allowances

Chapter 13 Provisions affecting mining and oil industries

Provisions relating to ring fence trades

162 Ring fence trade a separate qualifying activity

(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 F1the definition of “oil-related activities” in section 16(2) of ITTOIA 2005 F2or section 274 of CTA 2010, and

(b)

constitute a separate trade (whether as a result of F3section 16(1) of ITTOIA 2005 or F3section 16(1) of ITTOIA 2005 or F4section 279 of CTA 2010 or otherwise).