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HMRC internal manual

Oil Taxation Manual

HM Revenue & Customs
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PRT: tax-exempt tariffing receipts - excepted assets - assets wholly situated in an existing field


A qualifying asset (OT15100) is an excepted asset for the purpose of the qualifying existing field (OT15860) condition in OTA83\S6B(1) if at the time of use the asset was wholly situated in the existing field and the asset was not a tanker.

This provision ensures that an existing taxable field is not prevented from being a qualifying existing field solely by the use of qualifying assets that are “field” assets situated within the field boundary of that field.

For tankers and tanker loading fields see (OT15880).