Commentary on Sections Glossary Overview Section 555: Disposal of oil licence with exploitation value
1930.This section is based on section 138A of CAA 1990.
1931.When the section applies, part of the consideration for the oil licence is treated for the purpose of Part 6 (research and development) as if it were for the disposal of an asset representing qualifying expenditure. That treatment can lead to a recapture of R&D allowances given in relation to that qualifying expenditure.