SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 15Interpretation
106Accounting periods before the purchaser comes within the charge to corporation tax
1
This paragraph applies if the date on which the purchaser comes within the charge to corporation tax falls after the end of the seller’s reference accounting period.
2
The provisions of this Schedule have effect as if the purchaser had—
a
an accounting period of 12 months ending on the day before the purchaser comes within the charge to corporation tax, and
b
successive accounting periods of 12 months in the preceding period.