SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 7Supplementary charge: recalculation of adjusted ring fence profits
“Reduced ARFP amount”
51
1
To determine the “reduced ARFP amount” for a pre-acquisition accounting period—
a
take the activated ARFP amount for the period, and
b
reduce that amount by the amount applied, in relation to the loss period mentioned in paragraph 26(1), in accordance with paragraph 25(2)(b) or (3)(b) for the pre-acquisition accounting period.
2
This paragraph is subject to paragraph 52.