SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 6Allocation of activated TTH amount
48“Closing balance of activated TTH”
1
The closing balance of activated TTH for the first activation period, or a post-activation period in relation to which paragraph 40, 41(3) or 42 applies, the closing balance of activated TTH for the period is—
a
the total activated TTH amount held by the purchaser for that period, less
b
the amount applied in accordance with paragraph 25 for that period.
2
If paragraph 41(4) applies in relation to a post-activation period, the closing balance of activated TTH for the period is the negative amount determined by deducting—
a
the TTH reduction amount for that period, from
b
the closing balance of activated TTH for the immediately preceding accounting period.