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HMRC internal manual

Oil Taxation Manual

Field allowance: the unactivated amount of a field allowance

The unactivated amount of a field allowance is one of the limits in determining the field allowance activated for an accounting period. The unactivated amount takes account of amounts already activated and changes in equity interest in the field.

The unactivated amount at a particular time is the total of the field allowance which the company held before that time, plus any field allowance received because of the acquisition of a further equity share, less the field allowance already activated for earlier accounting periods or reference periods less any reductions in field allowance because of equity share disposals.

**  This guidance is superseded by the introduction of the Investment Allowance legislation in Finance Act 2015. This applies to investment expenditure incurred on or after 1 April 2015.  The relevant legislation is in Part 8 Chapter 6A of CTA 2010.  Transitional rules are at paragraphs 7 and 8 of Part 2 Schedule 12 Finance Act 2015.  Full updated guidance will be provided shortly.  **