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HMRC internal manual

Oil Taxation Manual

PRT: non-field expenditure - outline

As a general rule the expenditure to be allowed in computing the assessable profit of a participator from a field is limited to costs incurred in connection with that field. There are however special rules to allow relief in any field for the following:

  • abortive exploration expenditure incurred on or after 1 January 1960 and before 15 March 1983, OTA75\S5, see OT13950 
  • exploration and appraisal expenditure incurred after 15 March 1983 and before 16 March 1993, OTA75\S5A, see OT13975 (and transitional provisions relating to certain expenditure incurred on or after 16 March 1993, see OT14040)
  • research expenditure incurred on or after 17 March 1987, OTA75\S5B, see OT14100.

Claims for such expenditure are made under OTA75\SCH7, see OT13775.