# Finance Act 2009, Paragraph 3


(1) Paragraph 8 of Schedule 1 to OTA 1983 (allowable expenditure: use of new asset otherwise than in connection with taxable field) is amended as follows.
(2) In sub-paragraph (1)(a) and (b), for “in connection with a taxable field” substitute “ for a qualifying purpose ”.
(3) After sub-paragraph (2) insert—
“(2A) In sub-paragraph (1) a reference to use for a qualifying purpose is a reference to—
(a) use in connection with a taxable field, and
(b) other use in—
(i) the United Kingdom,
(ii) the territorial sea of the United Kingdom, or
(iii) a designated area,
except use wholly or partly for an ineligible oil purpose.
(2B) In this Act a reference to use of an asset for an ineligible oil purpose is a reference to—
(a) use in connection with an oil field that is not a taxable field, and
(b) use for any other purpose (apart from a purpose falling within section 3(1)(b) of the principal Act) of a separate trade consisting of activities falling within section 492(1) of the Income and Corporation Taxes Act 1988.
(2C) In sub-paragraphs (2A) and (2B) a reference to use in connection with a taxable field or other oil field includes use giving rise to receipts which, for the purposes of this Act, are tariff receipts.”

---
Source: https://www.legislation.gov.uk/ukpga/2009/10/schedule/41/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2009/schedule-41/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.