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HMRC internal manual

Oil Taxation Manual

PRT: allowable field expenditure - subsidised expenditure


No allowance is to be given for any expenditure which has been or is to be met directly or indirectly by the Crown or by any Government or Public or Local Authority, whether in the United Kingdom or elsewhere, or by any person other than the Participator. Excluded from relief therefore is any expenditure to the extent that it has been, or will be, covered by Government grants, subsidies or contributions from participators or other parties.

See also OT09350 re the treatment of insurance recoveries.