Introduction Background Note
11.This section and Schedule have repealed the following four items of legislation:
	spreading of supplement (paragraph 9 of Schedule 3 to OTA 1975) allows companies to elect to spread relief for qualifying “supplemented” expenditure for up to 20 chargeable periods. The legislation does not currently appear to serve any useful purpose;
	pre-PRT expenditure (paragraph 3 of Schedule 4 to OTA 1975) applies to certain expenditure incurred prior to 13 November 1974. The normal time limit for claiming expenditure for PRT is six years and in any event HM Revenue & Customs (HMRC) is not aware of any outstanding claims under this legislation;
	Tariff Receipts Allowance – alternative calculation (section 9 of OTA 1983) provides a volume based allowance against tariff receipts similar to that of the Oil Allowance being relieved against sales of oil. Section 9(3) of OTA 1983 provides an alternative calculation for chargeable periods ending on or before 30 June 1987. The legislation is relatively complicated and is no longer applicable; and
	transitional provisions for certain rules within OTA 1983 – section 13 and Schedule 5 to this Act provide transitional rules for periods ending before or straddling 1 July 1982 in respect of the application of these new rules. These transitional rules are no longer applicable.
12.In addition, the section and Schedule make two further changes:
	the first involves renumbering Schedule 20A to FA 1993 (as inserted by Part 1 of Schedule 33 to FA 2008) as Schedule 20B to that act as there already exists a Schedule 20A (Lloyd underwriters), which was inserted by FA 2004; and
13.the second involves an amendment to section 502 of ICTA (interpretation of Chapter 5 of Part 12), in section (3A) to fully align the ring fence corporation tax definition of a consortium, for the purposes of determining whether or not companies are associated, with the general corporation tax definition..