Finance Act 2009 (c. 10)

SCHEDULES

SCHEDULE 44 U.K. Supplementary charge: reduction for certain new oil fields

Part 2 U.K. Pool of field allowances

Company's pool of field allowances U.K.

2 U.K. A company's pool of field allowances for an accounting period (“the relevant accounting period”) is—

where—

P is the amount of the company's pool of field allowances for the previous accounting period that has been carried into the relevant accounting period (see paragraphs 3 and 4), and

R is the aggregate of the amounts of field allowances for new oil fields which the company holds (see Part 3) that are activated in respect of—

• (a) the relevant accounting period (see Part 4), and

• (b) reference periods that fall within the relevant accounting period (see Part 5).