Corporation Tax Act 2010 section 329H

Unrelieved group ring fence profits

Section 329H dealt with unrelieved group ring fence profits for oil and gas companies, but this provision has been repealed and is no longer in force.

• Section 329H was part of Chapter 5A (sections 329A–329T) of the Corporation Tax Act 2010, which addressed the taxation of ring fence profits in the oil and gas sector.
• The entire Chapter 5A was repealed by Finance Act 2015, under section 47 and Schedule 11, paragraph 13.
• The repeal took effect in relation to accounting periods ending on or after 5 December 2013, meaning the provisions ceased to apply from that date onwards.
• As a result, any rules previously governing unrelieved group ring fence profits under this section are no longer operative and should not be relied upon for current tax computations.

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