Introduction Details of the Section
2.Subsection (1) inserts a new section 287A into Corporation Tax Act 2010.
3.Subsection (1) of section 287A provides that no loan relationship debits or credits are brought into account in respect of a company’s loan relationships insofar as the loan relationship relates to a decommissioning security settlement.
4.Subsection (2) of section 287A defines “decommissioning security settlement”.
5.Subsection (3) of section 287A provides the meaning of “abandonment programme” and “security”.