Introduction Overview Overview Section 297: Relief for expenditure incurred by a participator in meeting defaulter’s abandonment expenditure
1012.This section provides for relief to a participator who meets the decommissioning expenditure that should have been met by another participator (the “defaulter”). It is based on section 64(4) and (5) of FA 1991.
1013.The corresponding rule for income tax is section 225S of ITTOIA (inserted by Schedule 1 to TIOPA).