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HMRC internal manual

Oil Taxation Manual

Oil Taxation Manual: recent changes

Below are details of the amendments that were published on 29 October 2010 (see the update index for all updates)

These changes update the manual for the corporation tax consolidation acts of 2009 and 2010. They also update the manual for Finance Act 2010.

Section Details of update  
OT00190 Other Developments to the Fiscal Regime 1975 to 2010, extended to 2010  
OT00500 New page, Map of new and old legislative references following consolidation acts  
OT19000 PRT Appendices reinstated OT19025 to OT19260  
OT19025 Valuation of LPG - rewritten  
OT19040 Review of LPG Methodology - rewritten  
OT19075 Commingling -rewritten  
OT19100 Valuation Exchange Translation Dates - rewritten  
OT19125 Extra Statutory Concessions - rewritten  
OT19140 PRT/Accounts reconciliations (Full Version) - rewritten  
OT19175 PRT/Accounts Reconciliations (Modified Version) - rewritten  
OT19200 Deferral of PRT Returns - rewritten  
OT19225 Deferral of Returns (alternative method - informal returns) - rewritten  
OT19250 Elections for Oil Fields to become non-taxable - rewritten  
OT19260 PRT forms -rewritten  
OT21033 Definitions of Oil Extraction Activities  
OT21200 The Supplementary Charge: Introduction, updated  
OT21202 The Supplementary Charge: Commencement, updated  
OT21215 The Supplementary Charge: Management Provisions, updated  
OT21219 The Supplementary Charge - No supplementary charge losses or adjusted ring fence losses, updated  
OT22009 Interest and Financing: Summary of the Statutory Provisions, updated for consolidation acts  
OT21405 What is the field allowance? Updated for SI’s of 2010  
OT21410 Definition of a qualifying field. Updated for SI’s of 2010  
OT21415 The total amount of field allowance available. Updated for SI’s of 2010  
OT21460 DECC Guidance, page deleted  
OT26002 Meaning of oil & gas exploration and appraisal, page rewritten  
OT40000 - OT46700 The whole of the section on “Taxation of Non Residents under S830 ICTA88” has been renamed “Non-Residents Working on the UK Continental Shelf”  
OT40725 Scope of Exploration or Exploitation Activities - Companies.  
Page updated for consolidation of legislation    
OT41580 Treaties with an Offshore Activities Article - Example 3, example updated  
OT44100 Self Assessment & Appeals - The Return, page updated  
OT45050 Recovery of Tax - Recovery powers from licence holder, page updated