Source: http://www.legislation.gov.uk/ukpga/2015/11/schedule/14/enacted
Timestamp: 2018-06-22 17:23:39
Document Index: 789919284

Matched Legal Cases: ['art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 8', 'art 1', 'art 8', 'art 1', 'art 8', 'art 1']

SCHEDULE 14Investment allowance and cluster area allowance: further amendments
2(1)Section 270 (overview of Part) is amended as follows.
3In section 330 (supplementary charge in respect of ring fence trades), for subsection (5) substitute—
“(5)This Chapter is subject to—
4After section 330 insert—
“330ZAOrdering of allowances
(1)In this section “relieving Chapter” means any of the following—
5In section 356C (generation of onshore allowance), in subsection (9)(a), for “section 351” substitute “section 356IB”.
7Before section 356J (but after the heading “Interpretation”) insert—
“356IBAuthorisation of development”: oil fields
(1)In this Chapter a reference to authorisation of development of an oil field is a reference to a national authority—
a Northern Ireland department.”
8In section 356JB (definitions for Chapter 8), in the definition of “adjusted ring fence profits”, for the words from “means” to the end substitute “is to be read in accordance with section 330ZA”.
9(1)Schedule 4 (index of defined expressions) is amended as follows.
“adjusted ring fence profits (in Chapters 6A, 8 and 9 of Part 8) section 330ZA”;”;
“cluster area (in Part 8) section 356JD”;
“cluster area allowance (in Chapter 9 of Part 8) section 356JF(2)”;
“cumulative total amount of activated allowance (in Chapter 6A of Part 8) section 332E(2)”;
“cumulative total amount of activated allowance (in Chapter 9 of Part 8) section 356JG(2)”;
“investment allowance (in Chapter 6A of Part 8) section 332C(2)”;
“investment expenditure (in Chapter 6A of Part 8) section 332BA”;
“investment expenditure (in Chapter 9 of Part 8) section 356JE”;
“licence (in Chapter 6A of Part 8) section 332KA”;
“licence (in Chapter 9 of Part 8) section 356JNB”;
“licensed area (in Chapter 9 of Part 8) section 356JNB”;
“licensed sub-area (in Chapter 9 of Part 8) section 356JNA”;
“licensee (in Chapter 6A of Part 8) section 332KA”;
“licensee (in Chapter 9 of Part 8) section 356JNB”;
“qualifying oil field (in Chapter 6A of Part 8) section 332B”;
“reference period (in Chapter 6A of Part 8) section 332G”;
“reference period (in Chapter 9 of Part 8) section 356JI”;
“relevant income (in Chapter 6A of Part 8) section 332F(3)”;
“relevant income (in Chapter 9 of Part 8) section 356JH(3)”.
10(1)The amendments made by Part 1 of this Schedule have effect in relation to accounting periods ending on or after 1 April 2015.
(2)Sub-paragraph (1) is subject to sub-paragraphs (3) and (4).
(3)So far as they relate to cluster area allowance under Chapter 9 of Part 8 of CTA 2010 (as inserted by Schedule 13) the amendments made by Part 1 of this Schedule have effect in relation to expenditure incurred on or after 3 December 2014.
(4)So far as they relate to investment allowance under Chapter 6A of Part 8 of CTA 2010 (as inserted by Schedule 12) in respect of oil fields not falling within paragraph 6(1)(a) or (b) of that Schedule, the amendments made by Part 1 of this Schedule have effect subject to paragraphs 7 and 8 of that Schedule.