97 Provisions supplementary to ss 95 and 96
Finance Act 1999 (1999 c 16) | Legislation

97  Provisions supplementary to ss 95 and 96

(1)     For the purposes of section 95 above the marginal tax on the disposal receipts is the difference between—

(a)     the amount of tax to which the seller is chargeable on the assessable profit accruing to him from the seller's oil field in the period in which the asset or interest was disposed of; and

(b)     the amount of tax to which the seller would have been so chargeable if the amount or value of the consideration received or receivable by him in respect of the disposal in that period of the asset or interest had been nil.

(2)     For the purposes of that section—

(a)     any question whether a person is connected with the seller shall be determined in accordance the provisions of [section 1122 of the Corporation Tax Act 2010];

(b)     the relevant period is the period beginning with the time of the disposal of the asset or interest and ending with the time when the first claim is made for the allowance,

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