{
  "url": "https://openlegislation.uk/energy-oil-and-gas-profits-levy-act-2022/schedule-1/paragraph-2",
  "json_url": "https://openlegislation.uk/energy-oil-and-gas-profits-levy-act-2022/schedule-1/paragraph-2.json",
  "legislation": "ukpga/2022/40",
  "legislation_title": "Energy (Oil and Gas) Profits Levy Act 2022",
  "legislation_url": "https://openlegislation.uk/energy-oil-and-gas-profits-levy-act-2022",
  "path": "schedule/1/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": "Carry back of qualifying levy losses to earlier qualifying accounting periods",
  "text": "(1) This paragraph applies if an accounting period falls partly within the period of 12 months mentioned in paragraph 1(3).\n(2) The amount of the deduction for the loss for the accounting period is not to exceed an amount equal to the overlapping proportion of the company’s qualifying levy profits of that period.\n(3) The overlapping proportion is the same as the proportion that the part of the accounting period falling within the period of 12 months bears to the whole of the accounting period.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 para. 2 in force at Royal Assent"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2022/40/schedule/1/paragraph/2",
    "retrieved_at": "2026-10-29T08:55:20.413198+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}