[332IA Reduction of allowance if equity is disposed of]

Section [332IA Reduction of allowance if equity is disposed of]

Corporation Tax Act 2010 (2010 c 4) | Legislation
Corporation Tax Act 2010 (2010 c 4) | Legislation

[332IA  Reduction of allowance if equity is disposed of]

[(1)     If the unactivated allowance condition is met, the following amount is to be deducted in calculating the total amount of unactivated investment allowance attributable to the qualifying oil field concerned that is to be carried forward under section 332FC or 332HB from an accounting period or reference period of the transferor—

(U - A) x ((E1 - E2) / E1)

where—

U and A are—

(a)     in the case of a disposal made on the day following the end of an accounting period, the same as in section 332FC(2) (in its application to that

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