Chapter V – Petroleum Extraction Activities (s. 492)
Contents:
- 492 Treatment of oil extraction activities etc. for tax purposes
- 493 Valuation of oil disposed of or appropriated in certain circumstances
- 494 Loan relationships etc.
- 494AA Sale and lease-back
- 494A Computation of amount available for surrender by way of group relief
- 495 Regional development grants
- 496 Tariff receipts and tax-exempt tariffing receipts
- 496A Exploration expenditure supplement
- 496B Ring fence expenditure supplement
- 497 Restriction on setting ACT against income from oil extraction activities etc.
- 498 Limited right to carry back surrendered ACT
- 499 Surrender of ACT where oil extraction company etc. owned by a consortium
- 500 Deduction of PRT in computing income for corporation tax purposes
- 501 Interest on repayment of PRT
- 501A Supplementary charge in respect of ring fence trades
- 501B Assessment, recovery and postponement of supplementary charge
- 502 Interpretation of Chapter V