Oil and gas – guidance

HMRC Large Business Oil and Gas Sector

The taxation of businesses operating in the UK's oil industry and the administration of the special tax regimes which apply.

The Large Business Oil and Gas Sector

The HM Revenue and Customs (HMRC) Large Business Oil and Gas Sector is responsible for the taxation of businesses operating in the UK’s oil industry and for the administration of the special tax regimes which apply to these businesses.

Guidance on taxation and the special tax regimes which apply

Oil gas and mining: the North Sea fiscal regime

An introduction to how profits from oil and gas exploration and production from the UK and the UK’s Continental Shelf are taxed.

Petroleum Revenue Tax

The tax on profits from oil and gas fields in the UK and on the UK’s Continental Shelf given consent before 16 March 1993.

Oil gas and mining: Corporation Tax Ring Fence

The modified Corporation Tax regime to tax profits from all oil and gas fields in the UK and on the UK’s Continental Shelf.

The supplementary charge on Ring Fence Corporation Tax profits

The additional charge on ring fence profits adjusted for financing costs.

Oil gas and mining: non-residents working in UK waters

The tax regime for non-resident companies, individuals and partnerships working in the oil and gas industry fields in UK waters and on the UK’s Continental Shelf.

Statutory market values for oil

Details of the defined statutory market values for disposals of oil from a UK field sold other than at arm’s length.

Advance Pricing Agreements: offshore operations

Applications for Advance Pricing Agreements in the petroleum industry are made to the Large Business Oil & Gas Sector.

The Oil and Gas Industry Direct Tax Forum

The consultation forum between HMRC and the industry that meets quarterly and publishes minutes of its meetings.

Contact Large Business Oil Gas and Mining Sector