Oil taxation | Croner-i Tax and Accounting

– see also Petroleum revenue tax

Abandonment

Commentary – Tax Reporter ¶795-200

Administration

Commentary – Tax Reporter ¶795-500

API, meaning

Commentary – Tax Reporter ¶795-000

Appraisal work, meaning

Commentary – Tax Reporter ¶795-000

Associated gas, meaning

Commentary – Tax Reporter ¶795-000

Blended oil, meaning

Commentary – Tax Reporter ¶795-000

Block, meaning

Commentary – Tax Reporter ¶795-000

Brent

Contracts

Commentary – Tax Reporter ¶795-250

Meaning

Commentary – Tax Reporter ¶795-000

British Gas Corporation (BGC) role

Commentary – Tax Reporter ¶795-400

British National Oil Corporation (BNOC), role

Commentary – Tax Reporter ¶795-400

Butane, meaning

Commentary – Tax Reporter ¶795-000

Calorific value, meaning

Commentary – Tax Reporter ¶795-000

Capital allowances

Abandonment expenditure

Commentary – Tax Reporter ¶241-100 ; Tax Reporter ¶799-200

Application

Commentary – Tax Reporter ¶799-150

Contributions

Commentary – Tax Reporter ¶799-125

Decommissioning

Commentary – Tax Reporter ¶241-050 ; Tax Reporter ¶241-100 ; Tax Reporter ¶799-225

Generally

Commentary – Tax Reporter ¶798-925

Industrial buildings allowances

Commentary – Tax Reporter ¶799-000

Know-how

Commentary – Tax Reporter ¶799-100

Mineral extraction

Commentary – Tax Reporter ¶799-050

Oil production sharing contracts

Commentary – Tax Reporter ¶241-200

Plant and machinery allowances

Commentary – Tax Reporter ¶237-550 ; Tax Reporter ¶798-950

Research and development

Commentary – Tax Reporter ¶799-025

Transfer of interests in oil fields

Commentary – Tax Reporter ¶241-150

Capital gains tax

Commentary – Tax Reporter ¶799-350

Chargeable gains

Generally

Commentary – Tax Reporter ¶799-350

Losses

Commentary – Tax Reporter ¶524-900

Oil companies

Commentary – Tax Reporter ¶799-375

Shares in oil companies

Commentary – Tax Reporter ¶799-375

Chargeable period, meaning

Commentary – Tax Reporter ¶795-000

Condensates

Marketing

Commentary – Tax Reporter ¶795-250

Meaning

Commentary – Tax Reporter ¶795-000

Corporation tax

Abandonment expenditure

Commentary – Tax Reporter ¶799-200

Capital and revenue expenditure

Commentary – Tax Reporter ¶798-875

Chargeable gains

Commentary – Tax Reporter ¶799-350 ; Tax Reporter ¶799-375

Charges

Commentary – Tax Reporter ¶798-725

Commencing the trade

Commentary – Tax Reporter ¶798-550

Case Law – THE BIRMINGHAM & DISTRICT CATTLE BY-PRODUCTS CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE.

Computation of profits

Commentary – Tax Reporter ¶798-600

Connected persons

Commentary – Tax Reporter ¶799-250

Exploration expenditure supplement

Commentary – Tax Reporter ¶799-025

Exploration, appraisal and development expenditure

Commentary – Tax Reporter ¶798-925

Extension of UK taxing rights

Commentary – Tax Reporter ¶798-525

Field allowances

Commentary – Tax Reporter ¶798-610

Generally

Commentary – Tax Reporter ¶798-500

Group relief

Commentary – Tax Reporter ¶798-775

Information, HMRC's powers

Commentary – Tax Reporter ¶798-525

Instalment payments

Commentary – Tax Reporter ¶798-500 ; Tax Reporter ¶798-610

Interest

Commentary – Tax Reporter ¶798-725

Losses

Commentary – Tax Reporter ¶731-450 ; Tax Reporter ¶798-700

Non-resident companies

Commentary – Tax Reporter ¶764-400 ; Tax Reporter ¶798-525

Oil extraction activities, meaning

Commentary – Tax Reporter ¶798-550

Case Law – THE BIRMINGHAM & DISTRICT CATTLE BY-PRODUCTS CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE.

Petroleum revenue tax payments, deduction for

Commentary – Tax Reporter ¶798-825

Restriction on bareboat charter costs

Commentary – Tax Reporter ¶798-525

Ring fence expenditure supplement

Commentary – Tax Reporter ¶798-950 ; Tax Reporter ¶799-025

Ring fence profits

Commentary – Tax Reporter ¶798-500 ; Tax Reporter ¶798-550 ; Tax Reporter ¶798-600 ; Tax Reporter ¶798-610 ; Tax Reporter ¶798-750

Case Law – THE BIRMINGHAM & DISTRICT CATTLE BY-PRODUCTS CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE.

Sale and lease-back

Commentary – Tax Reporter ¶798-750

Separate trades

Commentary – Tax Reporter ¶798-550

Case Law – THE BIRMINGHAM & DISTRICT CATTLE BY-PRODUCTS CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE.

Supplementary charge for ring fence profits

Commentary – Tax Reporter ¶798-500 ; Tax Reporter ¶798-610

Crown rights

Commentary – Tax Reporter ¶795-300

Crude oil

Marketing

Commentary – Tax Reporter ¶795-250

Meaning

Commentary – Tax Reporter ¶795-000

Deballasting, meaning

Commentary – Tax Reporter ¶795-000

Designated area, meaning

Commentary – Tax Reporter ¶795-000

Development

Commentary – Tax Reporter ¶795-175

Downstream, meaning

Commentary – Tax Reporter ¶795-000

Employment income

Generally

Commentary – Tax Reporter ¶799-975

North Sea divers

Commentary – Tax Reporter ¶800-050

PAYE

Commentary – Tax Reporter ¶800-025

Territorial extent

Commentary – Tax Reporter ¶800-000

Equity, meaning

Commentary – Tax Reporter ¶795-000

Ethane, meaning

Commentary – Tax Reporter ¶795-000

Exploration and appraisal

Commentary – Tax Reporter ¶795-150

Farm out/farm in, meaning

Commentary – Tax Reporter ¶795-000

Feedstock, meaning

Commentary – Tax Reporter ¶795-000

Field, meaning

Commentary – Tax Reporter ¶795-000

Flaring, meaning

Commentary – Tax Reporter ¶795-000

Fractionation, meaning

Commentary – Tax Reporter ¶795-000

Gas, marketing

Commentary – Tax Reporter ¶795-250

Generally

Commentary – Tax Reporter ¶795-000

Grid spec, meaning

Commentary – Tax Reporter ¶795-000

Group relief

Commentary – Tax Reporter ¶798-775

History

Commentary – Tax Reporter ¶795-450

HMRC's responsibilities

Commentary – Tax Reporter ¶795-500

Hydrocarbons, meaning

Commentary – Tax Reporter ¶795-000

Initial treatment, meaning

Commentary – Tax Reporter ¶795-000

Integrated company, meaning

Commentary – Tax Reporter ¶795-000

Jacket, meaning

Commentary – Tax Reporter ¶795-000

Licences

Grant and issue

Commentary – Tax Reporter ¶795-300

Meaning

Commentary – Tax Reporter ¶795-000

Royalties

Commentary – Tax Reporter ¶795-350

Scientific research allowances

Commentary – Tax Reporter ¶799-075

Types

Commentary – Tax Reporter ¶795-300

Unitisation

Commentary – Tax Reporter ¶795-325

Liquified petroleum gas (LPG)

Marketing

Commentary – Tax Reporter ¶795-250

Meaning

Commentary – Tax Reporter ¶795-000

Marketing

Condensates

Commentary – Tax Reporter ¶795-250

Crude oil

Commentary – Tax Reporter ¶795-250

Gas

Commentary – Tax Reporter ¶795-250

Generally

Commentary – Tax Reporter ¶795-250

Liquefied petroleum gas

Commentary – Tax Reporter ¶795-250

Refined products

Commentary – Tax Reporter ¶795-250

Megajoule, meaning

Commentary – Tax Reporter ¶795-000

Methane, meaning

Commentary – Tax Reporter ¶795-000

Nationalised industries, role

Commentary – Tax Reporter ¶795-400

Natural gas, meaning

Commentary – Tax Reporter ¶795-000

Nature of oil and gas

Commentary – Tax Reporter ¶795-100

Non-resident companies

Commentary – Tax Reporter ¶764-400

North Sea

Discovery of oil and gas

Commentary – Tax Reporter ¶795-050

Fiscal regime, development

Commentary – Tax Reporter ¶795-450

Offshore employment intermediaries

Commentary – Tax Reporter ¶800-075

Offshore installation

Commentary – Tax Reporter ¶800-075

Oil production sharing contracts

Commentary – Tax Reporter ¶241-200 ; Tax Reporter ¶798-975

Oil, meaning

Commentary – Tax Reporter ¶795-000

Operator, meaning

Commentary – Tax Reporter ¶795-000

Ownership of petroleum reserves

Commentary – Tax Reporter ¶795-300

Participator, meaning

Commentary – Tax Reporter ¶795-000

Payback period, meaning

Commentary – Tax Reporter ¶795-000

Petrochemical, meaning

Commentary – Tax Reporter ¶795-000

Petroleum revenue tax

– see Petroleum revenue tax

Petroleum, meaning

Commentary – Tax Reporter ¶795-000

Production

Commentary – Tax Reporter ¶795-175

Propane, meaning

Commentary – Tax Reporter ¶795-000

Refined products, marketing

Commentary – Tax Reporter ¶795-250

Refining, meaning

Commentary – Tax Reporter ¶795-000

Research and development

Exploration expenditure supplement

Commentary – Tax Reporter ¶799-025

Generally

Commentary – Tax Reporter ¶799-025

Ring fence expenditure supplement

Commentary – Tax Reporter ¶799-025

Responsible person, meaning

Commentary – Tax Reporter ¶795-000

Ring fence trade

Capital allowances

Commentary – Tax Reporter ¶798-925–Tax Reporter ¶799-225

Capital and revenue expenditure

Commentary – Tax Reporter ¶798-875

Carry-forward of losses

Commentary – Tax Reporter ¶261-700

Chargeable gains

Commentary – Tax Reporter ¶799-350

Computation of profits

Commentary – Tax Reporter ¶798-600

Field allowances

Commentary – Tax Reporter ¶798-610

General commissioning expenditure

Commentary – Tax Reporter ¶241-100

Generally

Commentary – Tax Reporter ¶798-550 ; Tax Reporter ¶798-675

Case Law – THE BIRMINGHAM & DISTRICT CATTLE BY-PRODUCTS CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE.

Group relief

Commentary – Tax Reporter ¶798-775

Interest and charges

Commentary – Tax Reporter ¶798-725

Losses

Commentary – Tax Reporter ¶798-700

Petroleum revenue tax payments

Commentary – Tax Reporter ¶798-825

Sale and lease-back

Commentary – Tax Reporter ¶798-750

Sideways relief, restriction

Commentary – Tax Reporter ¶261-150

Supplementary charge

Commentary – Tax Reporter ¶798-610

Royalties

Commentary – Tax Reporter ¶795-350

Scientific research allowances

Commentary – Tax Reporter ¶799-075

Spot contract, meaning

Commentary – Tax Reporter ¶795-000

Tariff, meaning

Commentary – Tax Reporter ¶795-000

Term contract, meaning

Commentary – Tax Reporter ¶795-000

Therm, meaning

Commentary – Tax Reporter ¶795-000

Topsides, meaning

Commentary – Tax Reporter ¶795-000

Transfer pricing

Commentary – Tax Reporter ¶798-625

Transportation

Commentary – Tax Reporter ¶795-175

Unitisation

Generally

Commentary – Tax Reporter ¶795-325

Meaning

Commentary – Tax Reporter ¶795-000

Uplift, meaning

Commentary – Tax Reporter ¶795-000

Upstream, meaning

Commentary – Tax Reporter ¶795-000

Well, meaning

Commentary – Tax Reporter ¶795-000

Wellhead value, meaning

Commentary – Tax Reporter ¶795-000

Wellhead, meaning

Commentary – Tax Reporter ¶795-000