SolvedOT21066 | Corporation Tax Ring Fence: Losses and Group Relief: Extended Carry Back for General Decommissioning and Terminal Losses - Example
From HM Revenue & Customs · Oil Taxation Manual
For APE 31 Mar 2009, Company A made ring fence losses attributable to decommissioning expenditure of £1,000m and non-ring fence profits of £5m. The results of earlier APs and the loss relief available are as follows:
| APE | Ring Fence | Non-ring fence | Loss relief | Allowed under |
|---|---|---|---|---|
| 31 March 2009 | (£1,000m) | £5m | £5m | CTA10\S37 |
| 31 March 2008 | £10m | £15m | £25m | CTA10\S40 |
| 31 March 2007 | £20m | £10m | £30m | CTA10\S40 |
| 31 March 2006 | £25m | £15m | £40m | CTA10\S40 |
| 31 March 2005 | £50m | £30m | £50m | CTA10\S42 |
| 31 March 2004 | £100m | £50m | £100m | CTA10\S42 |
| 31 March 2003 | £365m | £60m | £349m | CTA10\S42 |
Total relief given is £599m, leaving ring fence losses available to carry forward of £401m.