410 UK oil licence: limit is original licence payment
Capital Allowances Act 2001 (2001 c 2) | Legislation

Qualifying expenditure on assets limited by reference to historic costs

410  UK oil licence: limit is original licence payment

(1)     This section applies if a person carrying on a mineral extraction trade (“the buyer”) incurs capital expenditure on acquiring a mineral asset which is a UK oil licence, or an interest

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