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HMRC internal manual

Oil Taxation Manual

PRT: Expenditure: Spreading Elections - Interest

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

OTA75\Sch3\Para9 & Para10

Under OTA75\Sch3\Para9(6), tax charged or repayable for the first four chargeable periods of a field because of an election for spreading does not attract interest in respect of any period before the date of the election.