Section 356GB | Activation of allowance: reference periods

From legislation.gov.uk

(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—

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

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

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

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.