Section 356GB — Finance Act 2014: Activation of allowance: reference periods

Activation of allowance: reference periods 356GB 1 The amount (if any) of activated allowance that a company has with respect to a site for a reference period is the smaller of the following—

a the company's relevant income from the site in the reference period;

b the total amount of unactivated allowance that is attributable to the reference period and the site (see section 356GD).

2 The company's relevant income from the site in the reference period is— I × R L where— I is the company's relevant income from the site in the whole of the accounting period; R is the number of days in the reference period; L is the number of days in the accounting period for which the company is a licensee in the licensed area concerned.