Related Commentary  Related HMRC Manuals

65(1)  Where an election is made by a participator in an oil field (in this section referred to as “the receiving field” ), up to ten per cent of certain expenditure incurred on or after 17th March 1987 in connection with another field, being a field which is for the purposes of this section a relevant new field, shall be allowable in accordance with this section in respect of the receiving field; and in the following provisions of this section the relevant new field in connection with which the expenditure was incurred is referred to as “the field of origin” .

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