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HMRC internal manual

Oil Taxation Manual

OT66070 - Transferable tax history - TTH allocation on a loss carry back - Closing balance of the total TTH amount

The closing balance of the total TTH amount is the total TTH amount that was acquired in the original TTH transaction, as reduced by the amount of any decommissioning losses that have been set against activated TTH in accordance with FA19\Sch15\Para25.