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HMRC internal manual

Oil Taxation Manual

From
HM Revenue & Customs
Updated
, see all updates

Oil Taxation Manual: recent changes

Below are details of the amendments that were published on 7 November 2014
(see the update index for all updates)

Page  Details of update 
   
OT00002 Updated for changes to business stream name and telephone number
OT00190 Overview of fiscal regime updated to FA2014
OT04693 Business address updated
OT10800 New section on decommissioning certainty re PRT: Contents page
OT10801 New section on Decommissioning relief deeds
OT10803 Outline of legislation re decommissioning relief deeds
OT10805 The effect of a deed claim on PRT
OT10808 The effect of a deed claim on Oil Allowance
OT21246 Withdrawal of FYA, asset not used in RF trade - reworded to reflect statute regarding notification period
OT21405 Amended for additionally developed oil fields
OT21410 Definition of additionally developed oil field added
OT21418 New page on amount of additionally developed oil field allowance available
OT21430 Field allowance when equity share is unchanged - information on additionally developed oil fields added
OT21500 New section on onshore allowance - contents
OT21501 Onshore allowance - background
OT21503 Onshore allowance - overview
OT21505 Onshore allowance - onshore related activities
OT21510 Onshore allowance - definition of site
OT21515 Onshore allowance - generation of onshore allowance
OT21520 Onshore allowance - reduction of adjusted ring fence profits
OT21525 Onshore allowance - activated and unactivated onshore allowance
OT21530 Onshore allowance - transfer of allowance between sites
OT21535 Onshore allowance - changes in equity share
OT21540 Onshore allowance - transfer of allowance on disposal
OT21455 Onshore allowance - definitions
OT21600 New section on hire of relevant assets
OT21601 New page, hire of relevant assets, introduction
OT21605 New page, hire of relevant assets, scope of legislation
OT21610 New page, hire of relevant assets, effect of CTA2010\S285A
OT21615 New page, hire of relevant assets, anti avoidance provision
OT26200 New section on extended ring fence expenditure supplement (ERFES) for onshore activities - contents
OT26201 ERFES introduction
OT26203 ERFES conditions for relief
OT26205 ERFES relevant percentage
OT26210 ERFES accounting periods
OT26215 ERFES restriction on number of AP’s it can be claimed for
OT26220 ERFES unrelieved group ring fence profits
OT26225 ERFES pre commencement additional supplement
OT26230 ERFES qualifying pre commencement onshore expenditure
OT26235 ERFES the mixed pool
OT26240 ERFES reductions for disposals
OT26245 ERFES reductions for unrelieved group ring fence profits
OT26250 ERFES additional supplement for post commencement periods
OT26255 ERFES onshore ring fence losses
OT26260 ERFES onshore ring fence pool
OT26265 ERFES reference amount post commencement pools
OT26270 ERFES reductions for utilised onshore ring fence losses
OT26275 ERFES reductions for unrelieved group ring fence profits
OT26300 MEA section moved from OT26200
OT26301 MEA section moved from OT26201
OT26305 MEA section moved from OT26205
OT26310 MEA section moved from OT26210
OT26315 MEA section moved from OT26215
OT26320 MEA section moved from OT26220
OT26325 MEA section moved from OT26235
OT26330 MEA section moved from OT26230
OT26335 MEA section moved from OT26235
OT26340  MEA section moved from OT26240
OT26345  MEA section moved from OT26245
OT26350 MEA section moved from OT26250
OT26355 MEA section moved from OT26255 and update for FA2014 changes to allowing costs of planning permission
OT26360  MEA section moved from OT26260
OT26370  MEA section moved from OT26275
OT26380  MEA section moved from OT26280
OT26390 MEA section moved from OT26290
OT26395 MEA section moved from OT26300
OT28040 Decommissioning and abandonment amendments to definitions re onshore expenditure in FA2013
OT28230 New page decommissioning and abandonment , connected persons and tax advantage
OT28600 Section revised for decommissioning security agreements and renamed
OT28601 Revised for decommissioning security agreements
OT28615 Changes to Inheritance Tax re property held in decommissioning security settlements
OT28617 Decommissioning security agreements, Loan relationships, prevention of double taxation
OT28700 New section, decommissioning certainty, contents
OT28701 New page decommissioning relief deeds (DRD)
OT28700 New page, DRD’s outline
OT28700 New page, DRD’s provisions for payment
OT28700 New page, DRD’s other provisions, schedule 31
OT28700 New page, DRD’s other provisions, schedule 32
OT30479 New page CG Reinvestment after pre trading disposal
OT43450 Updated for HMRC acceptance of mark up rate of certain activities of a rig operator.
OT50000 New section: Oil Contractors ring fence: contents
OT50001 New page: Oil Contractors ring fence: introduction
OT50005 New page: Oil contractors ring fence: scope
OT50010 New page: Oil contractors ring fence: relevant assets
OT50020 New page: Oil contractors ring fence: associated person
OT50030 New page: Oil contractors ring fence: calculating the hire cap: contents
OT50032 New page: Calculating the hire cap: the relevant percentage
OT50034 New page: Calculating the hire cap: periods of less than full use and short account periods
OT50036 New page: Calculating the hire cap: multiple leases
OT50038 New page: Calculating the hire cap: total expenditure
OT50040 New page: Calculating the hire cap: total expenditure - original cost
OT50042 New page: Calculating the hire cap: total expenditure - enhancement costs
OT50044 New page: Calculating the hire cap: total expenditure - estimated amounts
OT50050 New page: Oil contractors ring fence: the effect of the ring fence
OT50060 New page: Oil contractors ring fence: anti avoidance provision
OT50070 New page: Oil contractors ring fence: leasing arrangements
OT50080 New page: Oil contractors ring fence: the excess above the hire cap
OT50090 New page: Oil contractors ring fence: transitional provisions at commencement