SCHEDULE 15Oil activities: transferable tax history
PART 13Onward sale
85Original TTH amount transferred before eligible ring fence profits (subject to opt-out)
1
Paragraphs 86 and 87 apply in relation to the subsequent TTH election, subject to sub-paragraph (2).
2
The first purchaser and the second purchaser may elect, at the time the TTH election is made, that neither paragraph 86 nor paragraph 87 applies in relation to the subsequent TTH election.