Part 2 Reinvestment of Ring Fence Assets
Finance Act 2011 (2011 c 11) | Legislation

Part 2 Reinvestment of Ring Fence Assets

5

After section 198H of TCGA 1992 (acquisition by member of same group) insert—

“198I Exploration, appraisal and development expenditure

(1)     The incurring of exploration, appraisal and development expenditure in the course of a ring fence trade is to be treated for the purposes of sections 198A to 198H as the acquisition of assets—

(a)     which are the new assets mentioned in section

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