Oil Taxation Act 1983
Oil Taxation Act 1983 (1983 c. 56)
- Oil Taxation Act 1983 (1983 c. 56)
- Reliefs for expenditure
- 1 Expenditure incurred on non-dedicated mobile assets.
- 2 Dedicated mobile assets.
- 3 Expenditure incurred on long-term assets other than non-dedicated mobile assets.
- 3A Exclusion from section 3(4) of expenditure on assets giving rise to tax-exempt tariffing receipts
- 4 Expenditure related to exempt gas and deballasting.
- 5 Miscellaneous amendments relating to reliefs.
- Charge of receipts
- 6 Chargeable tariff receipts.
- 6A Tax-exempt tariffing receipts
- 6B The condition for being a qualifying existing field
- 7 Chargeable receipts from disposals.
- 7A Reduction of disposal receipts: use giving rise to tax-exempt tariffing receipts
- 8 Qualifying assets.
- 9 Tariff receipts allowance.
- 10 Returns relating to tariff and disposal receipts.
- 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 12 Charge of receipts attributable to U.K. use of foreign field asset.
- Supplementary
- 13 Transitional provisions.
- 14 Re-opening of decisions for periods before the passing of this Act.
- 15 Short title, interpretation, construction and repeals.
- SCHEDULES
- SCHEDULE 1 Allowable Expenditure
- Part I Extensions of Allowable Expenditure for Assets Generating Receipts
- Associated assets
- Restriction of relief for remote associated assets
- Assets no longer in use for the principal field
- Part II Special Rules as to Expenditure Allowable in Respect of Fixed Assets and Dedicated Mobile Assets
- Interpretation
- Assets acquired etc. for two or more fields
- Brought-in assets
- Subsequent use of new asset otherwise than in connection with a taxable field
- Mobile assets becoming dedicated assets
- SCHEDULE 2 Supplemental Provisions as to Receipts from Qualifying Assets
- Interpretation
- Consideration received by connected persons under avoidance schemes
- Apportionment of consideration in respect of use or disposal
- Cases where all the oil is disregarded under section 10 of the principal Act
- Acquisition otherwise than at arm’s length: limit on tariff and disposal receipts
- Transfer of interests in fields
- Insurance and compensation payments
- Dedicated mobile assets ceasing to be used in connection with participator’s oil field
- Disposal receipts in respect of brought-in assets
- Disposal receipts: assets used for deballasting
- Use by connected or associated person: avoidance devices
- Purchase at place of extraction
- SCHEDULE 3 Tariff Receipts Allowance
- The participator’s share
- Qualifying tariff receipts referable to different periods
- SCHEDULE 4 Receipts Attributable to United Kingdom Use of Foreign Field Assets
- Interpretation
- Chargeable receipts
- The charge to tax
- Expenditure relief
- Claims for expenditure relief
- The responsible person
- Management and collection
- Payment on account
- Income and corporation taxes
- SCHEDULE 5 Transitional Provisions
- Interpretation
- Review for transitional claim period
- No further reviews after the transitional claim period
- Assets giving rise to tariff receipts
- Re-opening past claim periods and chargeable periods
- Expenditure on associated assets
- Other claims for past expenditure
- SCHEDULE 6 Repeals
Feedback