Section 198L — Finance Act 2014: Expenditure by member of same group

Expenditure by member of same group 198L 1 Section 198J applies where—

a the disposal is by a company which, at the time of the disposal, is a member of a group of companies (within the meaning of section 170),

b the E&A expenditure or expenditure on oil assets is by another company which, at the time the expenditure is incurred, is a member of the same group, and c the claim under section 198J is made by both companies, as if both companies were the same person. 2 “E&A company”, “E&A expenditure” and “oil assets” have the meaning given by section 198J.