The Investment Allowance and Cluster Area Allowance (Investment Expenditure) (Amendment) Regulations 2024
The Finance Act 2015 introduced the Supplementary Charge Investment Allowance and Cluster Area Allowance. The allowances are available to oil and gas companies investing in upstream production in the United Kingdom and on the United Kingdom Continental Shelf. The allowances were initially only available for capital expenditure.
Lifecycle
Department
Made
18 Mar 2024
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In force
11 Apr 2024
Enabling power
The Treasury, in exercise of the powers conferred by sections 332BA and 356JE of the Corporation Tax Act 2010, makes the following Regulations.
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