Related Commentary  Related HMRC Manuals

1(1)  Subject to subsection (3) below, with respect to expenditure which is or was incurred after 30th June 1982 in acquiring, bringing into existence or enhancing the value of an asset, section 4 of the principal Act (allowance of expenditure on long-term assets) shall apply only where–

(a)the asset is a mobile asset which is not dedicated to the oil field referred to in subsection (1) of that section; or

(b)the expenditure is incurred as mentioned in section 13(1)(b) below.

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