SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 4Effect of a TTH election on the purchaser
26Repayment of supplementary charge
1
2
A repayment of tax to be determined as if—
a
an amount had been charged under section 330(1) of CTA 2010 in respect of the activated ARFP amount for the pre-acquisition accounting period,
b
that amount had been charged on, and paid by, the purchaser (instead of the seller), and
c
the transferred adjusted ring fence profits amount for the pre-acquisition accounting period were recalculated in accordance with paragraph 50.
3
See paragraph 53 for provision about the “activated ARFP amount”.