Introduction Overview Overview Section 293: Relief for reimbursement expenditure under abandonment guarantees
1003.This section provides relief for a participator against ring fence profits where some or all of a participator’s share of decommissioning costs is met by a guarantee and the participator subsequently reimburses the guarantor. It is based on section 63 of FA 1991.
1004.The corresponding rule for income tax is section 225O of ITTOIA (inserted by Schedule 1 to TIOPA).