# Corporation Tax Act 2010, Section 356B: Overview


This Chapter sets out how relief for certain capital expenditure incurred for the purposes of onshore oil-related activities is given by way of reduction of a company's adjusted ring fence profits, and includes provision about—
(a) the need for allowance held for a site to be activated by relevant income from the same site in order for the allowance to be available for reducing adjusted ring fence profits,
(b) elections by a company to transfer allowance between different sites in which it is a licensee (see section 356F), and
(c) mandatory transfers of allowance where shares in the equity in a licensed area are disposed of (see sections 356H to 356HB and the related provisions in sections 356G to 356GD).

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/356B (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-356B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.