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HMRC internal manual

Oil Taxation Manual

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HM Revenue & Customs
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PRT: Expenditure: Spreading Elections - Interaction with Oil Allowance

The legislation covering spreading elections ceased to have effect in relation to chargeable periods beginning after 30 June 2009.

OTA75\Sch3\Para9 & Para10

OTA75\Sch3\Para10 provides that where a spreading election is made, the deduction for oil allowance (see OT17025) cannot exceed that which would have been available if no election had been made. For chargeable periods ending after 31 December 1979, if a participator is not able to make full use of its share of oil allowance because of the spreading election, that unutilised balance will be available to all the participators in later periods.