Part 6 Allocation of Activated TTH Amount
Finance Act 2019 (2019 c 1) | Legislation

Part 6 Allocation of Activated TTH Amount

Application of this Part

36

This Part of this Schedule applies if a TTH activation event occurs in relation to the TTH asset.

37

In this Schedule—

(a)     “first activation period” means the first post-acquisition accounting period of the purchaser in which a TTH activation event occurs, and

(b)     “post-activation period” means a subsequent accounting period of the purchaser.

“Total activated TTH amount”

38

The “total activated TTH amount” held by the purchaser for a loss period which is the first activation period is the lower of—

(a)     the amount by which, at the end of that period, the total decommissioning expenditure amount exceeds the total net profits amount (see paragraph 30), and

(b)     the total TTH amount.

39

The “total activated TTH amount” held by the purchaser for a loss period which is a post-activation period is the lower of—

(a)     the adjusted activated TTH amount (see paragraphs 40 to 42), and

(b)     the closing balance of the total TTH amount for the immediately preceding accounting period (see paragraph 49).

40

(1)     This paragraph applies if, in relation to a post-activation period—

(a)     the relevant

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