60 Investment allowance: power to expand meaning of “relevant income”
Finance Act 2016 (2016 c 24) | Legislation

60  Investment allowance: power to expand meaning of “relevant income”

(1)     Section 332F of CTA 2010 (activation of investment allowance) is amended as follows.

(2)     In subsection (2)(b) before “the company's relevant income” insert “the total amount of”.

(3)     For subsection (3) substitute—

“(3)     For the purposes of this Chapter, income is relevant income of a company from a qualifying oil field for an accounting period if it is—

(a)     production income of the company

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