A ‘ring-fence trade’ for these purposes means a trade of extraction of oil or gas in the UK or UK Continental Shelf where the activities fall within the definition of ‘oil-related activities’ in ITTOIA 2005, s. 16(2) or CTA 2010, s. 274 and constitute a separate trade. The ring-fence trade is treated as a separate qualifying activity for the purposes of CAA 2001, Pt. 2 (Plant and machinery allowances) (CAA 2001, s. 162).

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