Beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Oil Taxation Manual

Updates: Oil Taxation Manual

2016

published amendments

The taxation of the UK oil industry: an overview: other developments to the fiscal regime 1975 to 2014
Title, year range extended to 2014
Capital allowances: extended ring fence expenditure supplement for onshore activities - conditions for relief and outline
final sub heading corrected to read "Post commencement losses"
Decommissioning and abandonment: decommissioning certainty: decommissioning relief deeds
Corrected for an error, references to PRT replaced with RFCT/SC

published amendments

PRT: administration: payment provisions - payment on account
format error corrected
PRT: administration: returns by responsible person - PRT 2
Reference to OTO removed
PRT: Changes - FA93 - Tariffs and tariff-related expenditure
correction of typo
PRT: Changes - FA93 - Non-dedicated mobile assets
Format change

published amendments

PRT: valuation of crude oils and products - list of oils within category 2
Four missing fields added to table

published amendments

PRT: allowable field expenditure - anti-avoidance provisions: sale and leaseback
Mispell corrected
PRT: allowable field expenditure - specifically excluded expenditure: interest
mispell corrected
PRT: allowable field expenditure - tariff related expenditure
mispell corrected
PRT: decommissioning certainty: contents
new page added to manual

published amendments

PRT: computation - received or receivable (including term and entitlement contracts)
Table reformatted to improve reading
PRT: administration: Schedule 7 claims
short title amended to include form numbers
PRT: administration: claims - time limits for claims
small typo corrected
PRT: administration: returns by participators - PRT 1
short title updated to include form number
PRT: administration: returns by responsible person - PRT 2
Short title corrected to include form number

published amendments

PRT: terminal liftings - allocation of oil sold under ‘Period of Entitlement’ and term contracts (Regulation 5)
short title shortened to aid navigation
PRT: terminal liftings - how terminals (and offshore loading facilities) operate - the loading programme
short title shortened to improve navigation
PRT: computation - received or receivable (including term and entitlement contracts)
table reformatted

published amendments

PRT: allowable field expenditure - subsidised expenditure
Missing space between text and link inserted
PRT: allowable field expenditure - prevention of double allowance
Missing space between text and link inserted
PRT: allowable field expenditure - tariff related expenditure
Missing space between text and link inserted
PRT: allowable field expenditure - insurance
Missing spaces between text and links inserted
PRT: allowable field expenditure - material stocks
Missing space between text and link inserted
PRT: allowable field expenditure - transporting
missing spaces added between text & links
PRT: allowable field expenditure - winning
repeated word removed
PRT: allowable field expenditure - outline
missing spaces added to separate text from links

published amendments

Corporation tax ring fence: hire of relevant assets: contents
title amended to include word "contents"
Corporation tax ring fence: first-year allowances for a ring fence trade - contents
page title amended to show it is a contents page
PRT: appendices - PRT forms
link to forms mended
PRT: meaning of expenditure incurred and timing issues - time when expenditure is incurred
Missing space between text and link inserted
PRT: meaning of expenditure incurred and timing issues - background
Missing spaces between text and links inserted
PRT: Foreign Fields - Abolition of PRT - Foreign and Transmedian Fields
Missing space between text and link inserted

published amendments

Capital Allowances: Research and Development Allowances: 1967 Memorandum - Successive Stages of Work - Stages 3, 4 &5
correction to formatting
Capital Allowances: Research and Development Allowances: 1967 Memorandum - Successive Stages of Work - Stages 1 & 2
formatting and numbering corrected - corrupted when new web page converted from old.

published amendments

Non-residents working on the UK continental shelf: transfer pricing: advance pricing agreements
Link amended.
Changes to reflect changes in governance, CTIS policy and the advent of the hire cap legislation.

published amendments

Non-residents working on the UK continental shelf: transfer pricing: advance pricing agreements
Return to original.

published amendments

Non-residents working on the UK continental shelf: transfer pricing: advance pricing agreements
Evolving APA practice.

published amendments

Oil contractors ring fence: calculating the hire cap: total expenditure - enhancement costs
Typo

2017

published amendments

PRT appendices - elections for oil fields to become non-taxable
Format
Formatting
Formatting
This page has been changed to reflect changes made at Autumn Statement 2016 to the opt-out for PRT. The Introduction and How Legislation Works sections have been changed and two new sections have been added.
PRT: oil allowance - amount of allowance
Text deleted to reflect changes to PRT administration made at Autumn Statement 2016.
PRT: oil allowance - background
This change reflects changes made to PRT administration at Autumn Statement 2016.
PRT: administration: payment provisions - instalments
This reflects changes made to PRT administration made at Autumn Statement 2016
PRT: administration: payment provisions - payment on account
This change reflects changes made to PRT administration at Autumn Statement 2016.
PRT: administration: payment provisions - payment on account - PRT 6
This change reflects changes to PRT administration made at Autumn Statement 2016.
PRT: administration: returns by participators - PRT 6
This change reflects changes made to PRT administration at Autumn Statement 2016
PRT: administration: returns by participators - PRT 1A
This change reflects a change to the opt-out for PRT made at Autumn Statement 2016.
PRT: administration: returns by participators - PRT 1
This change reflects changes to PRT administration at Autumn Statement 2016.
PRT: administration: returns by responsible person - PRT 2
This change has been made to reflect changes to PRT administration made at Autumn Statement 2016.
PRT: appendices - PRT forms
The change to content is to reflect changes made at Autumn Statement 2016.

published amendments

PRT appendices - elections for oil fields to become non-taxable
updated
update
update
updated
updated

published amendments

PRT: allowable field expenditure - contents
Correcting typo