Finance Act 2019 (c. 1)

SCHEDULES

SCHEDULE 15 U.K. Oil activities: transferable tax history

PART 5 U.K. TTH activation

Decommissioning expenditure amount U.K.

34 (1) The “restoration expenditure amount” for an accounting period is the amount that is treated as qualifying expenditure under section 416ZA of CAA 2001 (ring fence trades: expenditure on site restoration) for that period. U.K.

(2) A restoration expenditure amount is attributable to the TTH oil field if the qualifying expenditure is incurred in relation to the field.