Section 356GB | Activation of allowance: reference periods ^F1

From legislation.gov.uk

17 July 2014

(1)The amount (if any) of activated allowance that a company has with respect to a site for a reference period is the smaller of the following—^F1

(a)the company's relevant income from the site in the reference period;^F1

(b)the total amount of unactivated allowance that is attributable to the reference period and the site (see section 356GD).^F1

(2)The company's relevant income from the site in the reference period is—^F1

Formula

I \times \frac{R}{L}

where—

I is the company's relevant income from the site in the whole of the accounting period;

R is the number of days in the reference period;

L is the number of days in the accounting period for which the company is a licensee in the licensed area concerned.