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HMRC internal manual

Oil Taxation Manual

PRT: Advance Petroleum Revenue Tax - Background

Advance Petroleum Revenue Tax (APRT) was a temporary tax payable for periods from 1 January 1983 to 31 December 1986. The relevant charging provisions are contained in FA82\S139 to FA82\S142 and FA82\SCH19.

The charge was in effect a means of accelerating PRT payments. The amount payable was a percentage of the gross profit, increased if appropriate in respect of royalties in kind and reduced by reference to an exempt allowance. APRT paid was set off against PRT due for the period with any balance unused being carried forward. Any APRT carried forward and unused within 5 years of first payment was repaid.

Although APRT is no longer chargeable, repayments do arise from time to time from the carry back of losses to periods in which APRT paid was set against a PRT liability. Where APRT is released in this manner, repayment should be made after confirmation that APRT was paid and correctly set against the original PRT liability. A full record should be maintained in the APRT repayment folder.

Such repayments of APRT do not attract interest (FA82\SCH19\PARA14(5)).

APRT was preceded by Supplementary Petroleum Duty (SPD) - see OT05705.