Abandonment expenditure

Generally

Participator meeting defaulter's abandonment expenditure

Abandonment guarantees

Expenditure on

Activities treated as trade

Additionally-developed oil field

Adjustments

Assets held on 31 March 1982, excluded disposals

Associated companies, meaning

Authorisation of development of an oil field, meaning

Calculation of profits

Abandonment expenditure

Abandonment guarantees

Capital allowances

Deduction of petroleum revenue tax

Group relief

Interest on repayment of petroleum revenue tax/advance petroleum revenue tax

Loan relationships

Losses

Management expenses

Regional development grants

Sale and lease-back

Tariff receipts etc.

Valuation of oil

Capital allowances

Decommissioning expenditure

First-year qualifying expenditure

Mineral extraction trades

Oil production sharing contracts

Restrictions on allowances, anti-avoidance

Reuse etc. of offshore oil infrastructure

Ring fence trade

Transfer of interests

Charge to tax

Decommissioning of offshore oil infrastructure

Deduction of petroleum revenue tax in calculating income

Effect of repayment of petroleum revenue tax

Generally

Deemed separate trade

Double taxation relief claims , petroleum revenue tax

Exploration expenditure supplement

Accounting periods

Generally

Post-commencement supplement

Pre-commencement supplement

Qualifying companies

Qualifying expenditure

Relevant percentage

Straddling periods, special rule

Taxable ring fence profits

Unrelieved group ring fence profits for accounting periods

Exploration or exploitation activities, meaning

Exploration or exploitation assets, deemed disposals

Exploration or exploitation rights, meaning

Field allowances for eligible fields

Acquisition of equity share, holding by virtue of

Activation of

Change in equity share, activation of allowance

Change in equity share, transfer of allowance

Deep water gas fields

Licensee to hold

No change in equity share, activation of allowance

Part of pool carried into following period

Pool of

Reduction of adjusted ring fence profits

Total field allowance for a new field, meaning

Transfer of

Unactivated amount

Whole of pool carried into following period

Group relief

Income tax

Interest on repayment of petroleum revenue tax/advance petroleum revenue tax

Licence-holders' liabilities for tax assessed on non-residents

Exception for pre-1974 cases

Exemption certificates

Generally

Licence, meaning

Payments under secondary-liability notices

Related to a licence, meaning

Secondary-liability notices

Loan relationships

Credits to be brought into account, restriction

Debits to be brought into account, restriction

Loss relief

Carry-forward of loss relief

Claim period

Extension of period for

Generally

North Sea decommissioning costs

Sideways relief restriction

Transfer of trade to obtain, anti-avoidance provisions

Meanings

Mineral exploration and access, deductions for

Mineral extraction trade

Mineral leases

New oil field, meaning

Non-residents

Deemed disposals

Lessors

Offshore installations, meaning

Oil and gas exploration and appraisal, meaning

Oil extraction activities, meaning

Oil fields

Disposal of interests in

Replacement of business assets

Oil licences

Foreign oil concession

Intangible fixed assets, excluded

Overseas

Qualifying expenditure

Swaps

Undeveloped areas, disposals

Oil production sharing contracts

Disposal values on cessation of ownership

Expenditure incurred by contractor

Expenditure incurred by participator

Generally

Participator's expenditure attributable

Oil rights, meaning

Oil-related activities

Orders

Overview

Petroleum revenue tax

Deduction in calculating income for corporation tax

Double taxation arrangements, giving effect to

Interest on repayment

Market value for, same price application

Post-commencement supplement

Amount of

Generally

Group ring fence profits unrelieved, reduction for

Reference amount

Ring fence losses

Ring fence pool

Straddling periods

Pre-commencement supplement

Claims for

Disposal receipts under CAA2001, reduction

Generally

Group ring fence profits unrelieved, reduction for

Mixed pool

Reference amount

Qualifying oil field, meaning

Regional development grants

Reinvestment of ring fence assets

Acquisition by member of same group

Double claims disallowed

Exploration, appraisal and development expenditure

Generally

Part of consideration reinvested

Partial replacement of assets, relief

Qualification for roll-over relief

Ring fence investments, meaning

Whole consideration reinvested

Relocation of provisions

Research and development

Ring fence expenditure supplement

Accounting periods

Generally

Limit on number of accounting periods for which supplement may be claimed

Post-commencement supplement

Pre-commencement supplement

Qualifying companies

Qualifying pre-commencement expenditure

Relevant percentage

Taxable ring fence profits

Unrelieved group ring fence profits

Ring fence income, meaning

Ring fence profits, meaning

Ring fence trade

Capital allowances

Capital gains tax

Election to defer capital allowances

General decommissioning expenditure

General decommissioning expenditure incurred before/after cessation

General decommissioning expenditure, meaning

Instalment payments

Meaning

Post-cessation expenditure

Pre-cessation abandonment expenditure

Separate qualifying activity

Supplementary charge

Ring-fence trade

Transfer pricing

Sale and lease-back

Small oil filed, meaning

Supplementary charge

Adjusted ring fence profits, meaning

Assessment

Decommissioning expenditure

Election to defer capital allowances

Financing costs

Generally

Instalment payments

New oil field

Plant and machinery allowances

Postponement

Recovery of

Reduction for new oil field

Straddling period

Transitional provisions

Tariff receipts etc.

Territorial sea and designated areas

Total field allowance for a new field, meaning

Transfers of interests in oil fields, anti-avoidance

Ultra heavy oil field, meaning

Ultra high pressure/high temperature oil field, meaning

Valuation of oil

Appropriation but no disposal

Appropriation to refining etc.

Disposal not sale at arm's length

Market value for petroleum revenue tax

Nomination scheme, excess of nominated proceeds

Transportation costs