Particular bodies: oil & gas companies
LB Oil & Gas is part of Large Business (LB London) and is responsible for:
- Petroleum Revenue Tax
- CT and supplementary charge liabilities of the majority of companies which have to pay Petroleum Revenue Tax, and
- CT and supplementary charge liabilities of the majority of oil industry groups generally.
Any company which owns oil and gas interests in the North Sea should, in the first instance, be referred to LB Oil & Gas.
Some smaller oil industry groups and companies are dealt with by LB Scotland & Northern Ireland in Glasgow and some by HMRC’s Glasgow Mid-size Business Team. Both offices receive technical support from LB Oil & Gas.
The address is:
LB Oil & Gas
South West Wing, Bush House
LB Oil & Gas deals with the indirect tax affairs of the larger oil industry groups.
Activities associated with the oil industry
LB Oil & Gas also deals with the mainstream CT liabilities of companies having a wide range of activities associated with the oil industry, including oil traders and companies providing oil related services to non-residents.