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HMRC internal manual

Oil Taxation Manual

OT66050 - Transferable tax history - TTH allocation on a loss carry back - Additional activated TTH amount

In an accounting period after the first loss-making period, in which the relevant proportion of the decommissioning expenditure attributable to the TTH oil field exceeds the net profit amount attributable to the TTH asset for that period, further TTH is activated. The additional activated TTH amount is the amount of that excess.