SCHEDULES

SCHEDULE 15Oil activities: transferable tax history

PART 4Effect of a TTH election on the purchaser

29Supplementary provision: repayment and enquiries

1

An enquiry under Part 4 of Schedule 18 to FA 1998 into a tax return for the accounting period in which the claim under section 37 of CTA 2010 in respect of a decommissioning loss in a loss period is made (see paragraphs 23 and 24), or an enquiry into the claim under Schedule 1A to TMA 1970, extends to—

a

the decommissioning expenditure amount attributable to the TTH oil field for any accounting period,

b

the tracked profit or loss amount attributable to the TTH asset for any accounting period, and

c

whether a TTH activation event has occurred in relation to the TTH asset.

2

See Part 5 for provision about “the decommissioning expenditure amount” and a TTH activation event, and paragraphs 64 and 65 for provision about the “tracked profit and loss amount”.