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HMRC internal manual

Oil Taxation Manual

From
HM Revenue & Customs
Updated
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PRT: allowable field expenditure - winning

OTA75\S3(1)(d)

In essence what falls to be relieved here are the costs of providing and maintaining the production apparatus and of producing the oil. The purpose of ‘winning oil’ will encompass a wide range of costs from e.g. the construction of a platform to the salaries of the personnel who operate it.

For particular types of expenditure which may be incurred under this heading (but which may also qualify under other parts of OTA75\S3(1)),

see

  • OT09275, material stocks
  • OT09300, redundancy
  • OT09325, overheads
  • OT09350, insurance
  • OT09600, sale and leaseback (where, in particular, expenditure is subject to specific limitations).