Section 356GD — Finance Act 2014: Unactivated amounts attributable to a reference period

Unactivated amounts attributable to a reference period 356GD 1 For the purposes of section 356GB(1)(b), the total amount of unactivated allowance attributable to a reference period and a site is— P + Q − R where— P is the amount of allowance generated by the company in the reference period at the site (including any amount treated under section 356F(7) or 356HB(1) as generated by the company in that accounting period at that site); Q is the amount given by subsection (2) or (3); R is any amount to be deducted under section 356HA(1) in respect of a disposal of the whole or part of the company's share of the equity in a licensed area that is or contains the site.

2 Where the reference period is not immediately preceded by another reference period but is preceded by an accounting period of the company, Q is equal to the amount (if any) that is to be carried forward from that preceding accounting period under section 356EB(2).

3 Where the reference period is immediately preceded by another reference period, Q is equal to the amount carried forward by virtue of section 356GC(2).