Corporation Tax Act 2010 section 334

Company's pool of field allowances

Section 334 explains how a company's pool of field allowances for a given accounting period is calculated.

• A company's pool of field allowances is a running total that accumulates over successive accounting periods.
• The pool for any accounting period equals the amount carried forward from the previous period plus any new field allowances activated during the current period.
• Field allowances that are activated in the period are aggregated together and added to the brought-forward balance.
• The pool carries forward from one accounting period to the next, building up over time as further field allowances are activated.