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HMRC internal manual

Oil Taxation Manual

Capital Allowances: Research and Development Allowances: Using reserve reporting for deciding on the availability of RDAs

The establishment and reporting of reserves may be used as a mechanism for deciding the availability or non availability of RDA. The method can be accepted provided the details are recorded and clearly understood and applied by both the company and HMRC. The “cut off mechanism” is expected to produce a fair and reasonable overall result.

The Statement of Recommended Practice (SORP) issued by the Oil Industry Accounting Committee of 7th June 2001 covers the reporting of commercial reserve quantities at Paragraphs 246 - 251 inclusive.