OT30105 - Capital Gains

Drilling Expenditure. Part Disposal of Licence. Section 195(7).

TCGA92\s195(7) provides that on a part disposal of a licence, any expenditure qualifying for a deduction under s195 is attributed wholly to the part disposed of - it is not apportioned under the normal rules at TCGA92\s42 between the part disposed of and the part retained.