OT61070 | Transferable tax history - Administration and enquiries - Claims to set losses against TTH - enquiries

Where a purchaser has made a decommissioning loss (see OT63030) which it carries back and sets against activated TTH, the enquiry powers in Sch 18 to FA98 apply if the claim is made as part of a return, or TMA70\Sch1A applies if the claim is made outside of a return.

However, FA19\Sch15\Para29(1) extends the scope of any such enquiry into a loss carry back claim to include whether a TTH activation event has occurred, and the amount of TTH that has been activated, including examining the tracked profit and loss amounts and the decommissioning expenditure amounts attributed to the interest in the TTH oil field.