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HMRC internal manual

Oil Taxation Manual

Capital allowances: mineral extraction allowance - acquisition of an oil licence from a non trader


CAA2001\S408 makes a similar provision to that described in OT26320 in respect of the acquisition of an interest in an oil licence from a person who disposed of that interest without having carried on a mineral extraction trade.


For CAA2001\S408 the definition of oil licence and interest in an oil licence is derived from CAA2001\S552.