OT21445 - Field allowance: application of field allowance after changes to adjusted ring fence profits

[Field Allowance was superseded by Investment Allowance which was introduced by Fiance Act 2015 and applies to expenditure incurred on or after 1 April 2015. See OT21550 for guidance on Investment Allowance.]

A company’s adjusted ring fence profits for an accounting period means the adjusted ring fence profits that would (but for the field allowance) be taken into account in calculating the supplementary charge on the company under CTA2010\S330 & S331 for the accounting period.

If there is any change in a company’s adjusted ring fence profits for an accounting period, any necessary adjustments are made to the operation of the field allowance legislation.