OT21530 - Corporation tax ring fence: onshore allowance - transfer of allowance between sites

CTA2010\S356F

A company holding an amount of unactivated allowances in respect of a site (site A) may elect to transfer the whole or part of that amount to another site (site B), if the appropriate conditions are met:

  1. Every part of site B is, or is part of, an area in which the company is a licensee, and
  2. »Ê¹ÚÌåÓýapp election is made no earlier than the beginning of the third accounting period of the company after that in which the allowance was generated.

»Ê¹ÚÌåÓýapp election must specify:

  • the amount of onshore allowance to be transferred;
  • the site at which it was generated;
  • the site to which it is transferred; and
  • the accounting period in which it was generated.