Petroleum Revenue Tax was introduced by the Oil Taxation Act 1975 and is a tax on the profits from oil and gas production in the UK or on the UK Continental Shelf.
PRT was abolished on 16 March 1993 for all fields that were given development consent on or after that date.
PRT remains in force for fields given consent before 16 March 1993.
Petroleum Revenue Tax returns
Transfer an oil field
Claim expenditure for PRT
Claim a loss, repayment or allowance for PRT
Declare returns for PRT
Declare claims for PRT
Published 30 November 2014