Finance Act 2019 (c. 1)

SCHEDULES

SCHEDULE 15 Oil activities: transferable tax history

PART 6 Allocation of activated TTH amount

“Closing balance of the total TTH amount”

49 The closing balance of the total TTH amount for an accounting period is—

(a) the total TTH amount, less

(b) the total of the amounts (if any) applied in accordance with paragraph 25 for that accounting period and earlier accounting periods.