SCHEDULES

SCHEDULE 21Relief in respect of decommissioning expenditure

Extension of loss relief available in respect of decommissioning expenditure

5

(1)

In Chapter 2 of Part 4 of CTA 2010 (relief for trade losses), section 40 (ring fence trades: extension of periods for which relief may be given) is amended as follows.

(2)

In subsection (1)(b), for the words from “for which” to the end substitute “ for which any allowances under section 164 or 403 of CAA 2001 are made to the company in respect of decommissioning expenditure ”.

(3)

In subsection (3)—

(a)

for “the allowance” substitute “ the sum of the allowances ”, and

(b)

for “that allowance” substitute “ that amount ”.

(4)

After that subsection insert—

“(3A)

In this section “decommissioning expenditure” has the meaning given by section 330C.”