CG69400 - Oil exploration and exploitation: Large Business Oil & Gas Sector
TCGA92/S193 to TCGA92/S200 provide special rules covering the calculation of chargeable gains or allowable losses on assets used in oil exploration or exploitation. These assets include licences, assets such as plant and machinery used in connection with an oil field and unquoted shares deriving the greater part of their value from oil exploration and exploitation assets.
If HMRC staff need advice, they should seek support from the Large Business Oil & Gas Sector leads.
CG30 should, as normal, be sent to Shares and Assets Valuation, who will consult with Large Business Oil & Gas Sector leads as necessary.