OT13110 - PRT: Expenditure: Spreading Elections - Outline
The legislation covering spreading elections ceased to have effect in relation to chargeable periods beginning after 30 June 2009.
OTA75\Sch3\Para9 & Para10
The legislation covering spreading elections ceased to have effect in relation to chargeable periods beginning after 30 June 2009.
It is normal in early field life for participators to incur significant upfront expenditure, and it may take a number of periods before they break even in the field and begin to pay PRT. OTA75\Sch3\Para9 is intended to allow participators to spread their PRT liabilities more evenly but, because of the current profile of PRT, elections are increasingly rare. A successful election permits a participator to spread relief for 바카라 사이트˜supplemented expenditure바카라 사이트™ (see OT12025) over a number of chargeable periods.
바카라 사이트˜Relief for supplemented expenditure바카라 사이트™ is defined in OTA75\Sch3\Para9(7) as the amount attributable to expenditure which qualifies for supplement, together with the associated supplement which, but for the election, would fall to be relieved in an assessment.