Section 198L Expenditure by member of same groupF1
(1)
Section 198J applies where—
(a)
the disposal is by a company which, at the time of the disposal, is a member of a group of companies (within the meaning of section 170),
(b)
the E&A expenditure or expenditure on oil assets is by another company which, at the time the expenditure is incurred, is a member of the same group, and
(c)
the claim under section 198J is made by both companies,
as if both companies were the same person.
(2)
“E&A company”, “E&A expenditure” and “oil assets” have the meaning given by section 198J.
Annotations
Textual amendments
- F1
Ss. 198J-198L inserted (with effect in accordance with s. 71(2) of the amending Act) by Finance Act 2014 (c. 26), s. 71(1)