Corporation Tax Act 2010
Sections and provisions with full text and the judgments that cite each one.
Section 329R — Reductions in respect of utilised onshore ring fence losses
Reductions in respect of utilised onshore ring fence losses 329R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 329S — Reductions in respect of unrelieved group ring fence profits
Reductions in respect of unrelieved group ring fence profits 329S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 329T — The reference amount for a post-commencement period
The reference amount for a post-commencement period 329T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 330 — Supplementary charge in respect of ring fence trades
Supplementary charge in respect of ring fence trades 330 1 If a company carries on a ring fence trade in an accounting period, a sum equal to 10% of its adjusted ring fence profits for that period is…
Section 330A — Decommissioning expenditure taken into account in calculating ring fence profits
Decommissioning expenditure taken into account in calculating ring fence profits 330A 1 This section applies where— a any decommissioning expenditure is taken into account in calculating the amount…
Section 330ZA — Ordering of allowances
Ordering of allowances 330ZA 1 In this section “ relieving Chapter ” means any of the following— a Chapter 6A (reduction of supplementary charge: investment allowance); b Chapter 8 (reduction of…
Section 330B — Decommissioning expenditure taken into account for PRT purposes
Decommissioning expenditure taken into account for PRT purposes 330B 1 This section applies where— a any decommissioning expenditure is taken into account in calculating the assessable profit…
Section 330C — Meaning of “decommissioning expenditure”
Meaning of “decommissioning expenditure” 330C 1 In sections 330A and 330B “ decommissioning expenditure ” means expenditure incurred in connection with— a demolishing any plant or machinery, b…
Section 331 — Meaning of “financing costs” etc
Meaning of “financing costs” etc 331 1 This section applies for the purposes of section 330. 2 “ Financing costs ” means the costs of debt finance. 3 In calculating the costs of debt finance for an…
Section 332 — Assessment, recovery and postponement of supplementary charge
Assessment, recovery and postponement of supplementary charge 332 1 The provisions of section 330(1) relating to the charging of a sum as if it were an amount of corporation tax are to be taken as…
Section 332A — Overview
Overview 332A 1 This Chapter sets out how relief for certain expenditure incurred in relation to a qualifying oil field is given by way of reduction of a company's adjusted ring fence profits. 2 The…
Section 332BA — Meaning of “investment expenditure”
Meaning of “investment expenditure” 332BA 1 For the purposes of this Chapter, expenditure incurred by a company is “investment” expenditure only if it is— a capital expenditure, or b expenditure of…
Section 332CA — Expenditure incurred before field is determined
Expenditure incurred before field is determined 332CA 1 This section applies to expenditure incurred by a company on or after 1 April 2015 for the purposes of oil-related activities if or to the…
Section 332DA — Restriction where field qualified for field allowance as new field
Restriction where field qualified for field allowance as new field 332DA 1 This section applies to expenditure which— a is incurred by a company in relation to an oil field that was for the purposes…
Section 332EA — Carrying forward of activated allowance
Carrying forward of activated allowance 332EA 1 This section applies where, in the case of a company and an accounting period, the cumulative total amount of activated allowance (see section 332E(2))…
Section 332FA — The closing balance of unactivated allowance for an accounting period
The closing balance of unactivated allowance for an accounting period 332FA The closing balance of unactivated allowance held by a company for an accounting period and a qualifying oil field is— P +…
Section 332HA — Unactivated amounts attributable to a reference period
Unactivated amounts attributable to a reference period 332HA 1 For the purposes of section 332H(1)(a), the total amount of unactivated allowance attributable to a reference period and a qualifying…
Section 332IA — Reduction of allowance if equity is disposed of
Reduction of allowance if equity is disposed of 332IA 1 If the unactivated allowance condition is met, the following amount is to be deducted in calculating the total amount of unactivated investment…
Section 332JA — Regulations amending specified percentages
Regulations amending specified percentages 332JA 1 The Treasury may by regulations substitute a different percentage for the percentage that is at any time specified in any of the following…
Section 332KA — Other definitions
Other definitions 332KA In this Chapter (except where otherwise specified)— “ adjusted ring fence profits ”, in relation to a company and an accounting period, is to be read in accordance with…
Section 332B — Meaning of “qualifying oil field”
Meaning of “qualifying oil field” 332B In this Chapter “ qualifying oil field ” means an oil field that is not wholly or partly included in a cluster area (see section 356JD).
Section 332DB — Restriction where project in additionally-developed field qualified for field allowance
Restriction where project in additionally-developed field qualified for field allowance 332DB 1 This section applies to expenditure which— a is incurred by a company in relation to a project by…
Section 332FB — Activation limit for former additionally-developed fields
Activation limit for former additionally-developed fields 332FB 1 This section applies to a company for an accounting period in relation to an oil field if— a immediately before 1 April 2015 the oil…
Section 332HB — Carry-forward of unactivated allowance from a reference period
Carry-forward of unactivated allowance from a reference period 332HB 1 If, in the case of a reference period (“RP1”) of a company, the amount given by subsection (2) is greater than zero, that amount…
Section 332IB — Acquisition of allowance if equity acquired
Acquisition of allowance if equity acquired 332IB 1 If the unactivated allowance condition is met, a transferee is treated as generating in the qualifying oil field concerned, at the beginning of the…
Section 332C — Generation of investment allowance
Generation of investment allowance 332C 1 Subsection (2) applies where a company— a is a participator in a qualifying oil field, and b incurs any relievable investment expenditure on or after 1 April…
Section 332DC — Restriction relating to fields qualifying for onshore allowance
Restriction relating to fields qualifying for onshore allowance 332DC 1 This section applies to investment expenditure which is incurred— a for the purposes of onshore oil-related activities in…
Section 332FC — Carrying forward of unactivated allowance
Carrying forward of unactivated allowance 332FC 1 If, in the case of an accounting period of a company and a qualifying oil field, the amount given by subsection (2) is greater than zero, that amount…
Section 332D — Expenditure on acquisition of asset: disqualifying conditions
Expenditure on acquisition of asset: disqualifying conditions 332D 1 Investment expenditure incurred by a company (“ the acquiring company ”) on the acquisition of an asset (“the acquisition…
Section 332E — Reduction of adjusted ring fence profits
Reduction of adjusted ring fence profits 332E 1 A company's adjusted ring fence profits for an accounting period are to be reduced by the cumulative total amount of activated allowance for the…
Section 332F — Activation of allowance: no change of equity share
Activation of allowance: no change of equity share 332F 1 This section applies where— a for the whole or part of an accounting period, a company is a licensee in a qualifying oil field, b the…
Section 332G — Reference periods
Reference periods 332G 1 This section applies where— a a company is a licensee in a qualifying oil field for the whole or part of an accounting period, and b the company has different shares of the…
Section 332H — Activation of allowance: reference periods
Activation of allowance: reference periods 332H 1 The amount (if any) of activated allowance that a company has for a qualifying oil field for a reference period is the smallest of the following— a…
Section 332I — Introduction to sections 332IA and 332IB
Introduction to sections 332IA and 332IB 332I 1 Sections 332IA and 332IB apply where— a a company (“ the transferor ”) disposes of the whole or part of its share of the equity in a qualifying oil…
Section 332J — Adjustments
Adjustments 332J 1 This section applies if there is any alteration in a company's adjusted ring fence profits for an accounting period after this Chapter has effect in relation to the profits. 2 Any…
Section 332K — When expenditure is incurred
When expenditure is incurred 332K 1 Section 5 of CAA 2001 (when capital expenditure is incurred) applies for the purposes of this Chapter as for the purposes of that Act. 2 Regulations under section…
Section 333 — Reduction of adjusted ring fence profits
Reduction of adjusted ring fence profits 333 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 334 — Company's pool of field allowances
Company's pool of field allowances 334 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 335 — Carrying part of pool of field allowances into following period
Carrying part of pool of field allowances into following period 335 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 336 — Carrying whole of pool of field allowances into following period
Carrying whole of pool of field allowances into following period 336 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 337 — Licensee to hold field allowance
Licensee to hold field allowance 337 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 338 — Holding a field allowance on acquisition of equity share
Holding a field allowance on acquisition of equity share 338 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 339 — Unactivated amount of field allowance
Unactivated amount of field allowance 339 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 340 — Introduction to section 341
Introduction to section 341 340 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 341 — Activation of field allowance
Activation of field allowance 341 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 342 — Introduction to sections 343 and 344
Introduction to sections 343 and 344 342 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 343 — Reference periods
Reference periods 343 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 344 — Activation of field allowance
Activation of field allowance 344 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 345 — Introduction to sections 346 and 347
Introduction to sections 346 and 347 345 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 346 — Reduction of field allowance if equity disposed of
Reduction of field allowance if equity disposed of 346 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .