Finance Act 2009 (c. 10)

Part 6 U.K. Oil

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

(1) Schedule 44 contains provision for the reduction of the supplementary charge under section 501A of ICTA on companies that are, or have been, licensees in new oil fields.

(2) In section 501A of ICTA, after subsection (11) insert—

“(12) This section is subject to Schedule 44 to the Finance Act 2009.”

(3) This section and Schedule 44 have effect in relation to accounting periods ending on or after 22 April 2009.