Oil Taxation Act 1975

• (aa) either is incurred before 16th March 1993 or is incurred within the period of two years beginning on that date and is expenditure to which that person or, if that person is a company, that company or a company associated with it in respect of the expenditure, is committed immediately before that date; and

• (b) is so incurred wholly and exclusively for one or more of the purposes specified in subsection (2) below; and

• (c) at the time it is so incurred, does not relate to a field for which a development decision has previously been made.

• (1A) For the purposes of subsection (1)(aa) above, in respect of expenditure incurred on or after 16th March 1993, a person is to be regarded as committed to that expenditure immediately before that date if—

• (a) he has an obligation under an exploration and appraisal contract entered into before that date to incur the expenditure; or

• (b) the expenditure is incurred wholly and exclusively for the same purpose as that for which the contract referred to in paragraph (a) above was entered into and is so incurred pursuant to an obligation under an exploration and appraisal contract entered into on or after 16th March 1993 and before 16th June 1993.

• (1B) In considering whether a person has at any time such a contractual obligation as is referred to in paragraph (a) or paragraph (b) of subsection (1A) above in respect of any expenditure,

• (a) if the contract contains a power (however exercisable) by virtue of which the person concerned, or a company associated with him in respect of the expenditure, is able to bring any contractual obligations to an end, he shall not be regarded as committed to any expenditure which, if the power were to be exercised, would not be incurred; and

• (b) if the person concerned (or a company associated with him in respect of the expenditure) has an option (however described) which was not exercised before 16th March 1993 but the exercise of which would increase his expenditure under the contract, he shall not be regarded as committed to any expenditure which would be incurred only as a result of the exercise of the option.

• (1C) For the purposes of subsection (1A) above a contract is an exploration and appraisal contract if it is a contract for the provision of any services or other business facilities or assets for any of the purposes specified in subsection (2) below.

• (2) The purposes referred to in subsections (1) to (1C) above are—

• (a) the purpose of searching for oil in the territorial sea of the United Kingdom or a designated area;

• (b) the purpose of ascertaining the extent or characteristics of any oil-bearing area in the territorial sea of the United Kingdom or a designated area;

• (c) the purpose of ascertaining what are the reserves of oil of any such oil-bearing area; and

• (d) subject to subsection (3) below, the purpose of making to the OGA any payment under or for the purpose of obtaining a licence (not being a payment by way of royalty or other periodic payment).

• (2A) Any reference in subsection (2) above to a designated area does not include a sector which, by virtue of subsection (3)(b) of section 107 of the Finance Act 1980 (transmedian fields), is deemed to be a designated area.

• (3) Expenditure incurred for the purpose mentioned in subsection (2)(d) above is not allowable under this section unless, at the time the allowance is claimed,—

• (a) the licence to which the expenditure related has expired or has been determined or revoked; or

• (b) part of the licensed area has been surrendered;

and where paragraph (b) above applies only that proportion of the expenditure which corresponds to the proportion of the licensed area which has been surrendered is expenditure falling within subsection (1) above.

• (4) Subject to subsection (5) below, subsections (2) and (4) to (8) of section 5 of this Act apply for the purposes of this section as they apply for the purposes of that section.

• (5) In the application for the purposes of this section of the provisions of section 5 of this Act referred to in subsection (4) above,—

• (a) any reference in subsection (2) of section 5 to the purpose mentioned in subsection (1)(b) of that section shall be construed as a reference to any of the purposes specified in subsection (2) of this section;

• (b) the reference in subsection (2)(a) of section 5 to subsection (1) of that section shall be construed as a reference to subsection (1) of this section; and

• (c) the reference in subsection (6) of section 5 to a sum received—

• (i) includes a reference to a sum received, or treated by virtue of subsection (5A) below as received, from the disposal of oil won in the course of operations carried out for any of the purposes in paragraphs (a) to (c) of subsection (2) of this section; but

• (ii) does not include a reference to a sum received for the assignment of any of the rights conferred by a licence or of any interest in a licensed area.

• (5A) Subsection (5B) below applies in any case where—

• (a) oil which is won as mentioned in paragraph (c)(i) of subsection (5) above is either disposed of otherwise than in sales at arm’s length or appropriated to refining or to any use except for production purposes of an oil field, and

• (b) if that oil had been disposed of in a sale at arm’s length, then, by virtue of section 5(6) of this Act as applied by subsection (5) above, certain expenditure would have been reduced by reference to the receipt of a sum from that disposal.

• (5B) Where this subsection applies, the oil concerned shall be treated for the purposes of subsection (5)(c)(i) above and section 5(6) of this Act as having been disposed of for a sum equal to its market value at the material time determined in accordance with Schedule 3 to this Act for the disposal or appropriation mentioned in subsection (5A)(a) above and, accordingly, for those purposes—

• (a) a sum equal to that market value shall be treated as having been received from that disposal; and

• (b) no account shall be taken of any sum actually received from the disposal of any of that oil.

• (5C) In the application of Schedule 3 to this Act for the purpose of ascertaining the market value of oil as mentioned in subsection (5B) above,—

• (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (b) sub-paragraph (4) of paragraph 2 shall be omitted; and

• (c) any reference in paragraphs 2 and 2A to oil being relevantly appropriated shall be construed as a reference to its being appropriated as mentioned in subsection (5A)(a) above; and

• (d) any reference in paragraph 2 to the notional delivery day for the actual oil shall be construed as a reference to the day on which the oil is disposed of or appropriated as mentioned in subsection (5A)(a) above.

• (6) Expenditure is not allowable under this section in connection with an oil field if, or to the extent that, it has been allowed under Schedule 5, Schedule 6 or Schedule 7 to this Act in connection with any oil field.

• (7) For the purposes of subsection (1)(c) above, a development decision is made when—

• (a) consent for development is granted to a licensee by the OGA in respect of the whole or part of an oil field; or

• (b) a programme of development is served on a licensee or approved by the OGA for the whole or part of an oil field;

and subsections (4) and (5) of section 36 of the Finance Act 1983 (meaning of development etc.) apply in relation to this subsection as they apply in relation to subsections (2) and (3) of that section.

• (8) If, at the time when it is incurred, expenditure relates to an area—

• (a) which is not then an oil field, but

• (b) in respect of which notice of a proposed determination has previously been given under paragraph 2(a) of Schedule 1 to this Act,

that area shall be treated for the purposes of this section as having become an oil field at the time the notice was given unless, when the actual determination is made, the area is not included in an oil field.

Interpretation of Part I.

5B

• (1) Subject to the following provisions of this section and Schedule 7 to this Act, the research expenditure which is allowable in the case of a person who is a participator in an oil field is any expenditure (whether or not of a capital nature) which—

• (a) is incurred by him on or after 17th March 1987; and

• (b) at the expiry of the period of three years from the time at which it was incurred, has not become allowable under section 3 or section 4 of this Act or section 3 of the Oil Taxation Act 1983; and

• (c) was not incurred for purposes relating to a particular oil field; and

• (d) was not incurred wholly and exclusively for one or more of the purposes which, subject to subsection (2) below, are specified in section 5A(2) of this Act; and

• (e) was incurred for the purpose of research of such a description that, if it had been incurred by the participator in relation to a particular field, it would have been allowable for that field under section 3 or section 4 of this Act or section 3 of the Oil Taxation Act 1983; and

• (f) was incurred wholly or partly for United Kingdom purposes.

• (2) For the purposes only of subsection (1)(d) above, any reference in section 5A(2) of this Act to the territorial sea of the United Kingdom shall be taken to include a reference to the United Kingdom itself.

• (3) Where expenditure falling within paragraphs (a) to (e) of subsection (1) above is incurred partly for United Kingdom purposes and partly for other purposes, only such part of the expenditure as it is just and reasonable to apportion to United Kingdom purposes shall be allowable by virtue of this section.

• (4) In subsections (1)(f) and (3) above, “United Kingdom purposes” means purposes relating to the United Kingdom, the territorial sea thereof or designated areas, excluding any sector which, by virtue of subsection (3)(b) of section 107 of the Finance Act 1980 (transmedian fields), is deemed to be a designated area.

• (5) Expenditure is not allowable under this section if, or to the extent that, it has been allowed under Schedule 5, Schedule 6 or Schedule 7 to this Act for or in connection with an oil field.

• (6) To the extent that it is reasonable to assume that expenditure which, apart from this subsection, would be allowable under this section has been incurred for purposes relating to excluded oil, within the meaning of section 10(1) of this Act or for purposes relating to non-taxable fields, that expenditure is not allowable under this section.

• (7) Subject to subsection (3) above, subsections (2) and (6) of section 5 of this Act apply for the purposes of this section as they apply for the purposes of that section except that—

• (a) any reference in subsection (2) of section 5 to the purpose mentioned in subsection (1)(b) of that section shall be construed as a reference to the purpose referred to in subsection (1)(e) of this section;

• (b) the reference in paragraph (a) of subsection (2) to subsection (1) of that section shall be construed as a reference to subsection (1) of this section; and

• (c) where any expenditure falls to be apportioned under subsection (3) of this section, any receipt to which it gives rise shall be similarly apportioned in the application of subsection (6) of section 5.

• (8) Paragraph 2 of Schedule 4 to this Act applies in relation to this section as it applies in relation to sections 3 and 4 of this Act.

9A

• (1) Subsections (2) and (3) below apply where—

• (a) operating expenditure is incurred by a participator in an oil field during a chargeable period to which section 9(1) of this Act applies (“the relevant chargeable period”);

• (b) a claim for the allowance of the expenditure is made under Schedule 5 or 6 for the claim period which coincides with the relevant chargeable period (“the relevant claim period”); and

• (c) the claim is made more than four months after the end of the relevant claim period.

• (2) The Board shall not allow the expenditure except to such extent (if any) as they consider necessary to secure that the participator’s overall liability to tax is no greater than it would have been if the claim had been allowed before the Board had made an assessment to tax or a determination on or in relation to the participator in respect of the field for the relevant chargeable period.

• (3) Any amounts of oil allowance which, if the claim had been allowed before the Board had made an assessment to tax or a determination on or in relation to the participator in respect of the field for the relevant chargeable period, would not have been utilised by him in that period, or any subsequent chargeable period, shall be disregarded for the purposes of section 8(6) of this Act.

• (4) Where—

• (a) the participator transfers the whole or part of his interest in the oil field to another person; and

• (b) Parts II and III of Schedule 17 to the Finance Act 1980 apply to the transfer,

subsections (2) and (3) above shall have effect as if references to the participator included references to that other person.

• (5) In this section—

• “acquisition”, in relation to an asset, includes acquisition of an interest in the asset;

• “capital expenditure” means expenditure on the acquisition or construction of an asset which is to be used for any of the following purposes—for ascertaining the extent or characteristics of any oil-bearing area wholly or partly included in the field, or what the reserves of oil of any such oil-bearing area are;for winning oil from the field;for transporting oil won from the field, whether to a place in the United Kingdom or to a place in another country; orfor the initial treatment or initial storage of oil won from the field;

• “operating expenditure” means any expenditure other than capital expenditure.

• (6) Where a claim period is a period of twelve months, this section shall have effect as if—

• (a) that period were two separate claim periods of six months each;

• (b) any claim for that period under Schedule 5 or 6 were two separate claims, one for each of those separate periods; and

• (c) the operating expenditure to which that claim relates were apportioned between those separate periods and those separate claims in such manner as may be just and reasonable.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Citation, interpretation and construction.

12A

• (1) Where—

• (a) the Board has extended the period for the delivery of any return that is required under paragraph 2 of this Schedule to be delivered for any chargeable period, and

• (b) the relevant time falls more than one year after the end of the chargeable period,

the period within which the Board may make an assessment under this Schedule for that chargeable period shall not expire before the end of the period of 4 years beginning with the relevant time.

• (2) In this paragraph “the relevant time” means the earlier of—

• (a) the time which, as a result of the extension, is the latest time for the delivery of the return; and

• (b) the time when the return is delivered.

17

• (1) This paragraph applies where—

• (a) an assessment made on a participator for a chargeable period or an amendment of such an assessment (in this paragraph referred to as “the relevant assessment or amendment”) gives effect to relief under subsection (2) of subsection (3) of section 7 of this Act for one or more allowable losses accruing in a later chargeable period (in this paragraph referred to, in relation to the relevant assessment or amendment, as “the relief for losses carried back”); and

• (b) the later chargeable period referred to in paragraph (a) above ends after 30th June 1991; and

• (c) an amount of tax becomes repayable to the participator by virtue of the relevant assessment or amendment (whether wholly or partly by reason of giving effect to the relief for losses carried back).

• (2) In the following provisions of this paragraph, so much of the repayment of tax referred to in sub-paragraph (1)(c) above as is attributable to giving effect to the relief for losses carried back is referred to as “the appropriate repayment” and, in relation to the appropriate repayment, the chargeable period for which the relevant assessment or amendment is made is referred to as “the repayment period”.

• (3) For the purpose of determining the amount of the appropriate repayment in a case where the relevant assessment or amendment not only gives effect to the relief for losses carried back but also takes account of any other matter (whether a relief or not) which goes to reduce the assessable profit of the period in question or otherwise to reduce the tax payable for that period, the amount of the repayment which is attributable to the relief for losses carried back is the difference between)—

• (a) the total amount of tax repayable by virtue of the relevant assessment or amendment; and

• (b) the amount of tax (if any) which would have been so repayable if no account had been taken of the relief for losses carried back.

• (4) Subject to sub-paragraph (6) below Where this paragraph applies, the amount of interest which, by virtue of paragraph 16 above which is treated as reducing the assessable profit of the repayment period, is carried by the appropriate repayment shall not exceed the difference between—

• (a) the relevant percentage of the amount of the allowable loss or losses referred to in sub-paragraph (1)(a) above; and

• (b) the amount of the appropriate repayment.

• (5) For the purposes of sub-paragraph (4)(a) above—

• (a) where the repayment period ends on or before 30th June 1993, the relevant percentage, in relation to the amount of the loss or losses which is treated as reducing the assessable profit accruing to the participator for that period is 85 per cent.; and

• (b) in relation to the amount of the loss or losses which is treated as reducing the assessable profit accruing to the participator for any later repayment period, the relevant percentage is 60 per cent ....

• (6) If, in order to give effect to the relief for losses carried back, a repayment of APRT falls, or will on the making of a claim fall, to be made with respect to a chargeable period which is the repayment period in relation to the appropriate repayment, the reference in sub-paragraph (4)(b) above to the appropriate repayment shall be construed as a reference to the aggregate of that repayment and the repayment of APRT.

• (7) In sub-paragraph (6) above “APRT” means advance petroleum revenue tax paid under Chapter II of Part VI of the Finance Act 1982.

2A

• (1) Paragraph 2 above shall have effect in accordance with this paragraph where the oil whose market value falls to be ascertained at any time in accordance with sub-paragraphs (1) to (2I) of that paragraph ... consists of or includes gas.

• (1A) Sub-paragraphs (2) and (3) below also apply where the market value of any light gases falls to be ascertained under paragraph 3A below.

• (2) Sub-paragraph (2)(d) or (as the case may be) (2AA)(d) of paragraph 2 above or, as the case may require, sub-paragraph (2)(b) of paragraph 3A below shall not apply to so much of the oil as consists of gas unless—

• (a) it has been subjected to initial treatment before being disposed of or relevantly appropriated; or

• (b) it has, after being disposed of or relevantly appropriated, been subjected to initial treatment by or on behalf of the participator in question or by or on behalf of a person who is connected with him within the meaning of section 1122 of CTA 2010;

and where oil consisting of gas has, whether before or after being disposed of or relevantly appropriated, been subjected to initial treatment by or on behalf of the participator in question or by or on behalf of a person who is connected with him as aforesaid the appropriate initial treatment referred to in sub-paragraph (2)(d) or (2AA) of paragraph 2 above or, as the case may require, sub-paragraph (2)(b) of paragraph 3A belowshall include the treatment to which it has been so subjected.

• (3) Where the initial treatment mentioned in sub-paragraph (2) or (2AA) above includes treatment in order to separate gas of one or more kinds which are transported and sold in normal commercial practice, the market value of the gas of each such kind which is separated shall be ascertained in accordance with sub-paragraphs (1) to (2I) of paragraph 2 or, as the case may require, in accordance with paragraph 3A below as if that were the only oil whose market value fell to be ascertained at the time in question ....

• (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Definition of market value of light gases

3A

• (1) The market value of any light gases for the purposes of this Part of this Act is the price at which, having regard to all the circumstances relevant to the disposal or appropriation in question, light gases of that kind might reasonably have been expected to be sold under a contract of sale satisfying the conditions specified in sub-paragraph (2) below.

• (2) The conditions referred to in sub-paragraph (1) above are that—

• (a) the contract is for the sale of the gases at arm’s length to a willing buyer;

• (b) the contract requires the gases to have been subjected to appropriate initial treatment before delivery; and

• (c) the contract requires the gases to be delivered—

• (i) in the case of gases extracted in the United Kingdom, at the place of extraction; or

• (ii) in the case of gases extracted from strata in the sea bed and subsoil of the territorial sea of the United Kingdom or of a designated area, at the place in the United Kingdom or another country at which the seller could reasonably be expected to deliver the gases or, if there is more than one such place, the one nearest to the place of extraction.

• (3) If the circumstances referred to in sub-paragraph (1) above are such that the price referred to in that sub-paragraph might reasonably be expected to include—

• (a) any such payments as are referred to in subsection (2) of section 114 of the Finance Act 1984 (treatment of certain payments relating to gas sales), or

• (b) any capacity payments, as defined in subsection (5) of that section,

section 114 of the Finance Act 1984 shall apply accordingly in relation to the notional contract specified in sub-paragraph (1) above as it applies in relation to an actual contract.

• (3A) The circumstances referred to in sub-paragraph (1) above include—

• (a) the timing of the making, and of any subsequent variations, of the actual contract or other arrangements under which the disposal or appropriation was made;

• (b) the terms of that contract or, as the case may be, of those arrangements, and the terms of any such variations; and

• (c) the extent to which the circumstances to which regard is to be had by virtue of paragraphs (a) and (b) above are circumstances that might reasonably have been expected to exist in the case of a contract satisfying the conditions specified in sub-paragraph (2) above.

• (4) This paragraph has effect subject to sub-paragraphs (2) and (3) of paragraph 2A above.

Effect of certain transactions between participators

6A

Where the whole or part of the share of a participator (“the transferor”) of oil won from an oil field became the share, or part of the share, of another participator (“the transferee”) in pursuance of an agreement between them under which the transferor undertook to remain responsible for carrying out the transferee’s obligations in connection with the field so far as they relate to the transferred share or part, then, for the purposes of this Part of this Act—

• (a) the shares of the transferor and the transferee of oil won from the field shall be taken to be the same as they would have been if the transfer had not occurred, and

• (b) any oil comprised in the transferred share or part and taken up by or on the authority of the transferee in pursuance of the agreement shall be regarded as being disposed of and delivered to him by the transferor at the time when it is taken up.

2A

• (1) This paragraph applies if—

• (a) a current participator (“the defaulter”) has defaulted on a liability under—

• (i) a relevant agreement, or

• (ii) an abandonment programme,

to make a payment towards abandonment expenditure, and

• (b) a current or former participator (“the contributing participator”) pays an amount in or towards meeting the whole or part of the default (“a default payment”).

• (2) If a claim is made under this Schedule for the allowance of the abandonment expenditure, the amount of the default payment is to be attributed to the contributing participator for the purposes of paragraphs 2(4)(b) and 3(1)(c).

• (3) But the amount attributed under sub-paragraph (2) may not exceed—

• (a) so much of the sum in default as the contributing participator is required to meet in accordance with—

• (i) the relevant agreement, or

• (ii) the abandonment programme, or

• (b) such other amount as the participator may be required to meet in accordance with a direction given under Part 4 of the Petroleum Act 1998.

• (4) Sub-paragraph (2) is subject to paragraph 2B.

• (5) In determining the amount which is to be attributed to the contributing participator under sub-paragraph (2), account shall be taken of the whole of the defaulter's interest in the relevant oil field.

• (6) But in determining the share of the abandonment expenditure to be attributed to the defaulter under paragraph 2(4)(b), the amount which would be attributed by reference to the defaulter's interest in the relevant oil field is to be reduced or (as the case may be) extinguished by the deduction of the aggregate of—

• (a) the amount attributed to the contributing participator under sub-paragraph (2), and

• (b) any other amounts attributed under sub-paragraph (2) to other current or former participators who make default payments in respect of the defaulter's default.

9

• (1) If ... it appears to the Board that the relevant amount was incorrectly stated in a notice of a decision under paragraph 3 above given to the responsible person for an oil field, the Board may before the expiry of the permitted period serve on the responsible Person a notice stating what appears to the Board to be the correct amount (referred to below as “the notice of variation”).

• (1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (1B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (1C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (2) In this paragraph “the relevant amount”, in relation to a notice of a decision on a claim under paragraph 3 above, means any one or more of the following—

• (a) the amount of expenditure allowed on the claim;

• (b) the amount of that expenditure allowed as qualifying for supplement under section 2(9)(b)(ii) of this Act;

• (c) where different percentages were stated in that notice to apply to different parts of that expenditure for the purpose of calculating the supplement, each of those parts of that expenditure.

• (2A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (2B) In this paragraph “permitted period” means the period of 4 years beginning with the date on which the notice of the decision under paragraph 3 was given (but see sub-paragraph (2C)).

• (2C) Where the relevant amount was overstated in the notice of decision as a result of an inaccuracy in a statement or declaration made by the responsible person (or a person acting on behalf of the responsible person) in connection with the claim—

• (a) if the inaccuracy was careless, the permitted period is extended to 6 years, and

• (b) if the inaccuracy was deliberate, the permitted period is extended to 20 years.

• (3) The responsible person may, by notice in writing given to the Board not more than thirty days after the notice of variation was served on him, appeal ... against the notice of variation.

• (4) A notice of appeal under sub-paragraph (3) shall state the grounds on which the appeal is brought.

• (5) An appeal under this paragraph may at any time before it is notified to the tribunal be abandoned by notice in writing given to the Board by the responsible person.

• (6) A notice of variation may be withdrawn at any time before it becomes effective.

• (7) In any case where—

• (a) the responsible person gives notice of appeal against a notice of variation, and

• (b) before the appeal is determined by the tribunal, the Board and the responsible person agree as to what the relevant amount ought to be,

the notice of variation shall have effect subject to such modifications as may be necessary to give effect to that agreement; and thereupon the appeal shall be treated as having been abandoned.

• (8) On an appeal that is notified to the tribunal against a notice of variation the tribunal may vary the notice, quash the notice or dismiss the appeal; and the notice may be varied whether or not the variation is to the advantage of all or any of the participators in the oil field in question.

• (9) Where a notice of variation relating to a decision on a claim becomes effective, the relevant amount shall be taken for the purposes of this Part of this Act as having been reduced or increased, as the case may require, on the date on which notice of the decision was given, by such amount as may be necessary to give effect to that notice, and the Board may make such computations under section 2 of this Act and such assessments or determinations or such amendments of assessments or determinations as may be necessary in consequence of that reduction or increase.

• (10) A notice of variation becomes effective for the purposes of this paragraph either—

• (a) on the expiry of the period during which notice of appeal against the notice of variation may be given ... under sub-paragraph (3) above without such notice of appeal being given; or

• (b) where such notice of appeal is given, when the notice of variation can no longer be varied or quashed by the tribunal or by the order of any court.

• (11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (12) For the purposes of this section, an inaccuracy in a statement or declaration made by the responsible person (or a person acting on behalf of the responsible person) is careless if it is due to a failure by the person to take reasonable care.

• (13) An inaccuracy in a statement or declaration made by the responsible person (or a person acting on behalf of the responsible person) is to be treated as careless if—

• (a) the responsible person, the person who acted on behalf of the responsible person or any person who becomes the responsible person for the oil field after the statement or declaration is made discovers the inaccuracy some time after it is made, and

• (b) that person fails to take reasonable steps to inform Her Majesty's Revenue and Customs.

Editorial notes

[^c10738251]: Act wholly in force at Royal Assent.

[^c10738261]: This Act is presented in the form in which it appears in the 1988 edition of The Taxes Acts (published by HMSO) and incorporating amendments made by the 1989 Inland Revenue Supplement and 1991 Statutes in Force Supplement. The style of editing differs from that applicable to most Acts published in Statutes in Force.

[^c10738271]: General amendments etc. to Tax Acts (or Income Tax Acts or Corporation Tax Acts as the case may be) made by Taxes Management Act 1970 (c. 9, SIF 63:1), s. 41A(7) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 95(1)(2), British Telecommunications Act 1981 (c. 38, SIF 96), s. 82(2)(7); Telecommunications Act 1984 (c. 12, SIF 96), s. 72(3); Finance Act 1984 (c. 43, SIF 63:1), ss. 82(6), 85(2), 89(1)(7), 96(1)(7), 98(7), Sch. 9 para. 3(2)(9), Sch. 16 paras. 6, 12 and Finance Act 1985 (c. 54, SIF 63:1), ss. 72(1), 74(5), Sch. 23 para. 15(4), S.I. 1987/530, regs. 11(2), 13(1), 14, Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss. 4, 6, 7, 9, 32, 34, 78, 134, 135, 141, 142, 185, 191, 193, 194, 195, 200, 203, 209, 212, 213, 219, 247, 253, 272, 287, 314, 315, 317, 318, 325, 326, 327, 345, 350, 351, 368, 375, 381, 397, 414, 432, 440, 442, 446, 458, 460, 461, 463, 463(2)(3) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 50(2) ), 468, 474, 475, 486, 490, 491, 503, 511, 518, 524, 532, 544, 550, 556, 558, 569, 572, 582, 595, 601, 613, 617, 619, 621, 639, 656, 660, 663, 676, 689, 691, 694, 700, 701, 714, 716, 739, 743, 754, 763, 776, 780, 781, 782, 787, 789, 811, 828, 829, 832, 833, 834, 835, 837, 838, 839, 840, 841, 842, Sch. 2 para. 5, Sch. 4 para. 5, Sch. 13 para. 10, Sch. 16 para. 10, Sch. 21 para. 6, Sch. 26 para. 1, Sch. 27 para. 20, Finance Act 1988 (c. 39, SIF 63:1), ss. 66, 127(1)(6), Sch. 12 para. 6, Capital Allowances Act 1990 (c. 1, SIF 63:1), ss. 28(1), 68(8), 74, 82, 83(5), 148(5), 163(4), 164(2), S.I. 1990/627 and Finance Act 1990 (c. 29, SIF 63:1), s. 25(10)

[^c10738281]: Act modified by Finance Act 1991 (c. 31, SIF 63:1), ss. 106(4), 108(3). Act modified (27.7.1999) by 1999 c. 16, s. 98(2)(4)

[^c10738291]: General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act

[^c10738561]: See Oil Taxation Act 1983 (c. 56), s. 12(5) in relation to the charge of receipts attributable to the U.K. use of foreign fields assets received or receivable after 30 June 1982 and Sch. 1 para. 1(4) in relation to expenditure on associated assets used in connection with an external field

[^c10738571]: Words in s. 1(1) substituted (15.2.1999) by 1998 c. 17, s. 50, Sch. 4 para. 7(2) (with Sch. 3 para. 5(1)); S.I. 1999/161, art. 2(1)

[^c10738581]: 1964 c. 28 (N.I.).

[^c10738591]: See Finance Act 1982 (c. 39), s. 135(1)

[^c10738601]: Words in s. 1(2) inserted (27.7.1993) by 1993 c. 34, s. 185(4)(a)

[^c10738611]: Words substituted by Finance Act 1982 (c. 39), s. 132(1) in relation to chargeable periods ending after 31 December 1982

[^c10738631]: Definition applied for purposes of Income and Corporation Taxes Act 1988 (c. 1), s. 500(5) Deduction of PRT in computing income for corporation tax purposes

[^c10738641]: Words substituted by Finance (No. 2) Act 1979 (c. 47), s. 21(2) in relation to chargeable periods and half years ending after 31 December 1978

[^c10739981]: S. 2 modified by Finance Act 1991 (c. 31, SIF 63:1), s. 108(4).

[^c10739991]: See also: Finance (No. 2) Act 1979 (c. 47), s. 22 Finance Act 1980 (c. 48), s. 108; Finance Act 1981 (c. 35), ss. 118, 126; Oil Taxation Act 1983 (c. 56), ss. 6, 7, 9, 12 and Schs. 2, 4

[^c10740001]: Words inserted by Finance Act 1982 (c. 39), s. 139(1)(6) and Sch. 19 para. 18 in respect to chargeable periods ending after 31 December 1982

[^c10740011]: See Finance Act 1982 (c. 39), s. 134(3) where an election for alternative valuation of ethane applies and s. 140(2)(4) in regard to increase of gross profit by reference to royalties in kind for purposes of APRT; Finance Act 1986 (c. 41), s. 109(4) where an election for alternative valuation of light gases applies

[^c10740021]: Words substituted by Finance Act 1987 (c. 16), s. 62(2) for chargeable periods ending after 31 December 1986

[^c10740041]: Words inserted by Finance Act 1982 (c. 39), s. 133(1) with respect to chargeable periods ending after 31 December 1981

[^c10740051]: Words in s. 2(5)(b)(c) inserted (3.5.1994) by 1994 c. 9, s. 236, Sch. 23 para. 1(1)

[^c10740071]: S. 2(5)(ca)(cb) inserted (3.5.1994) by 1994 c. 9, s. 236, Sch. 23 para. 1(1)

[^c10740111]: Word added by Finance Act 1987 (c. 16), s. 61(5)

[^c10740121]: S. 2(5)(e) added by Finance Act 1987 (c. 16), s. 61(5)

[^c10740131]: S. 2(5A) added by Finance Act 1982 (c. 39), s. 133(1) with respect to chargeable periods ending after 31 December 1981

[^c10740141]: Word in s. 2(5A) substituted (3.5.1994) by 1994 c. 9, s. 235(1)(a)

[^c10740151]: Word in s. 2(5A) substituted (3.5.1994) by 1994 c. 9, s. 235(1)(b)

[^c10740161]: Words in s. 2(5A) substituted (3.5.1994) by 1994 c. 9, s. 235(1)(c)

[^c10740191]: Words in s. 2(5A) substituted (16.7.1992 with effect as mentioned in s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74, Sch. 15 para. 1

[^c10740231]: Words in s. 2(5A)(ii) inserted (3.5.1994) by 1994 c. 9, s. 235(1)(d)

[^c10740241]: See Oil Taxation Act 1983 (c. 56), Sch. 1 para. 2 where expenditure incurred in respect of a remote associated asset

[^c10740261]: S. 2(9) excluded (27.7.1993) by 1993 c. 34, s. 192(3)

[^c10740271]: Words in s. 2(9) inserted (27.7.1993) by 1993 c. 34, s. 192(3)

[^c10740331]: See Finance Act 1987 (c. 16), s. 65(5)

[^c10740341]: See Oil Taxation Act 1983 (c. 56), s. 3(6) and Sch. 1 para. 2

[^c10740351]: See Oil Taxation Act 1983 (c. 56), s. 7(6) for reduction of supplement when there are disposal receipts in any chargeable period ending after 30 June 1982

[^c10740361]: See Finance Act 1981 (c. 35), ss. 111–113, 115

[^c10740371]: Words substituted by Finance (No. 2) Act 1979 (c. 47), s. 19(1) in relation to expenditure under post-31 December 1978 contracts. See, however, s. 19(3) of that Act where a change order has been made under a continuing pre-1 January 1979 contract

[^c10740431]: “; and” added by Finance Act 1983 (c. 49), s. 37(2) and Sch. 8 Part II para. 1

[^c10740441]: S. 2(9)(f) added by Finance Act 1983 (c. 49), s. 37(2) and Sch. 8 Part II para. 1

[^c10740451]: “; and” added by Finance Act 1987 (c. 16), s. 64(2) and Sch. 13 Part II para. 1

[^c10740461]: S. 2(9)(g) added by Finance Act 1987 (c. 16), s. 64(2) and Sch. 13 Part II para. 1

[^c10740471]: See Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 493

[^c10741661]: See Oil Taxation Act 1983 (c. 56), Sch. 1 para. 3 and Sch. 4 para. 10

[^c10741671]: See Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 495

[^c10741681]: S. 3 explained by Finance Act 1991 (c. 31, SIF 63:1), s. 104(1)(2). S. 3 modified (3.5.1994) by 1994 c. 9, ss. 231, 234, Sch. 22 Pt. II para. 12(2) S. 3 restricted (27.7.1999 with application as mentioned) by 1999 c. 16, s. 95(2)(9)(10)

[^c10741691]: See Oil Taxation Act 1983 (c. 56), s. 3(6)

[^c10741701]: See Finance Act 1980 (c. 48), s. 106 and Sch. 17

[^c10741711]: Words inserted by Oil Taxation Act 1983 (c. 56), s. 5(1)(a) with respect to expenditure incurred after 30 June 1982

[^c10741721]: Word in s. 3(1)(f) inserted (16.7.1992 but with effect in accordance with s. 74(5) of the amending Act)) by Finance (No. 2) Act 1992 (c. 48), s. 74, Sch. 15 para. 2(1)(a)

[^c10741731]: Words inserted by Finance (No. 2) Act 1979 (c. 47), s. 20(1) in relation to expenditure claimed after 31 December 1978

[^c10741741]: S. 3(1)(f)(ii) and preceding word substituted (16.7.1992 but with effect in accordance with s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74, Sch. 15 para. 2(1)(b)

[^c10741751]: See Finance Act 1980 (c. 48), s. 109 regarding fractionation expenditure incurred after 31 December 1979

[^c10741761]: S. 3(1)(hh) inserted by Finance Act 1991 (c. 31, SIF 63:1), s. 103(2)(with respect to expenditure incurred on or after 19.3.1991).

[^c10741771]: S. 3(1)(i)(j) substituted for para. (i) by Finance Act 1991 (c. 31, SIF 63:1), s. 103(3)(with respect to expenditure incurred after 30.6.1991).

[^c10741781]: S. 3(1A)-(1D) inserted by Finance Act 1991 (c. 31, SIF 63:1), s. 103(4)(8).

[^c10741791]: S. 3(1C)-(1E) substituted (11.5.2001 with effect as mentioned in s. 102(4) of the amending Act) for s. 3(1C)(1D) by 2001 c. 9, s. 102(1)

[^c10741821]: Words inserted by Finance Act 1983 (c. 49), s. 37(2) and Sch. 8 Part II para. 2

[^c10741831]: Words inserted by Finance Act 1987 (c. 16), s. 64(2) and Sch. 13 Part II para. 2

[^c10741841]: Words in s. 3(4)(c)(i) repealed (16.7.1992 but with effect in accordance with s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), ss. 55(3), 74, 82, Sch. 15 para. 2(2)(a), Sch. 18 Pt. VIII

[^c10741851]: S. 3(4)(c)(iv) added by Finance Act 1981 (c. 35), s. 119(1) in relation to any expenditure claimed after 31 December 1978

[^c10741861]: Words in s. 3(4)(c)(iv) substituted (16.7.1992 with effect in accordance with s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74. Sch. 15 para. 2(2)(b)

[^c10741871]: Word repealed by Finance Act 1984 (c. 43), ss. 124(7), 128(6) and Sch. 23 Part XIV

[^c10741901]: Words inserted by Oil Taxation Act 1983 (c. 56), s. 5 with respect to expenditure incurred after 30 June 1982

[^c10741911]: Words in s. 3(5)(a)(c) inserted (16.7.1992 with effect in accordance with s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74. Sch. 15 para. 2(3)

[^c10741921]: S. 3(5)(c) excluded (3.5.1994) by 1994 c. 9, s. 232(4)(a)

[^c10741941]: S. 3(5)(d) excluded (3.5.1994) by 1994 c. 9, s. 232(4)(a)

[^c10741951]: S. 3(5A)(7)(8) inserted by Oil Taxation Act 1983 (c. 56), s. 5 with respect to expenditure incurred after 30 June 1982

[^c10741961]: S. 3(5B) inserted by Finance Act 1991 (c. 31, SIF 63:1), s. 103(5)(8).

[^c10741971]: S. 3(5B) explained by Finance Act 1991 (c. 31, SIF 63:1), s. 104(5)

[^c10741981]: Words in s. 3(6) inserted by Finance Act 1991 (c. 31, SIF 63:1), s. 103(6)(8).

[^c10741991]: Words in s. 3(6) substituted (11.5.2001 with effect as mentioned in s. 102(4) of the amending Act) by 2001 c. 9, s. 102(2)

[^c10742021]: Words and paragraphs in s. 3(6) added (16.7.1992 with effect in accordance with s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74. Sch. 15 para. 2(4)

[^c10742041]: See Oil Taxation Act 1983 (c. 56), ss. 1–4 in relation to expenditure incurred after 30 June 1982 on long-term assets and s. 13(1)(b) and Sch. 5 of that Act for transitional provisions relating to expenditure incurred in a claim period beginning before and ending after 1 July 1982 but not later than 31 December 1983

[^c10742051]: S. 4 modified (3.5.1994) by 1994 c. 9, ss. 231, 234, Sch. 22 Pt. II para. 12 S. 4 restricted (27.7.1999 with application as mentioned) by 1999 c. 16, s. 95(2)(9)(10)

[^c10742061]: See Finance Act 1980 (c. 48), s. 106 and Sch. 17

[^c10742071]: Words inserted by Oil Taxation Act 1983 (c. 56), s. 1 in relation to expenditure incurred after 30 June 1982 on non-dedicated mobile assets

[^c10742081]: Words substituted by Oil Taxation Act 1983 (c. 56), s. 1 in relation to expenditure incurred after 30 June 1982 on non-dedicated mobile assets

[^c10742091]: S. 4(3)(4)(5)(a) “(b)” and words and (6) repealed by Oil Taxation Act 1983 (c. 56), s. 1 in relation to expenditure incurred after 30 June 1982 on non-dedicated mobile assets

[^c10742101]: See Finance Act 1980 (c. 48), s. 109(10) as regards fractionation expenditure referable to use after 31 December 1979

[^c10742181]: See Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 495

[^c10742281]: See Finance Act 1980 (c. 48), s. 106 and Sch. 17

[^c10742291]: See Finance Act 1984 (c. 43), s. 113

[^c10742301]: Words inserted by Finance Act 1983 (c. 49), s. 37(2) and Sch. 8 Part II para. 3

[^c10742311]: See Oil Taxation Act 1983 (c. 56), s. 3(6)

[^c10742321]: S. 5(2A) inserted (1994.05.03) by 1994 c. 9, s. 237(1)

[^c10742341]: Words repealed by Finance Act 1980 (c. 48), s. 122 and Sch. 20 Part XIII

[^c10742351]: See Finance Act 1983 (c. 49), s. 37(3) and Sch. 8 Part III with respect to sums received after 15 March 1983

[^c10742481]: S. 5A added by Finance Act 1983 (c. 49), s. 37(1) and Sch. 8 Part I

[^c10742491]: See Finance Act 1984 (c. 43), s. 113

[^c10742501]: S. 5A(1)(aa) inserted (27.7.1993) by 1993 c. 34, s. 188(1)

[^c10742511]: S. 5A(1A)-(1C) inserted (27.7.1993) by 1993 c. 34, s. 188(2)

[^c10742521]: Words in s. 5A(2) substituted (27.7.1993) by 1993 c.34 s. 188(3)

[^c10742531]: Words substituted by Finance Act 1985 (c. 54), s. 90(2) with respect to expenditure incurred on or after 1 April 1986

[^c10742551]: S. 5A(2A) added by Finance Act 1985 (c. 54), s. 90 with respect to expenditure incurred on or after 19 March 1985

[^c10742561]: S. 5A(5)(c)(i)(ii) substituted by Finance Act 1985 (c. 54), s. 90 with respect to expenditure incurred on or after 19 March 1985

[^c10742571]: S. 5A(5A)–(5C) added by Finance Act 1985 (c. 54), s. 90 with respect to expenditure incurred on or after 19 March 1985

[^c10742581]: Words repealed by Finance Act 1987 (c. 16), ss. 62(1)(b), 72(7) and Sch. 16 Part X for chargeable periods ending after 31 December 1986

[^c10742601]: Also for the purposes of Oil Taxation Act 1983 (c. 56), s. 8(3) and Sch. 1 para. 6(1)

[^c10742621]: S. 5B added by Finance Act 1987 (c. 16), s. 64(1) and Sch. 13 Part I

[^c10742631]: Words in s. 5B(6) inserted (27.7.1993) by 1993 c. 34, s. 185(4)(c)

[^c10742751]: S. 6(1)-(1D) substituted (retrospective to 7.3.2001) for s. 6(1)(1A) by 2001 c. 9 s. 101(1)(5)

[^c10742761]: S. 6(1C) excluded (retrospective to 7.3.2001) by 2001 c. 9, s. 101(4)(5), Sch. 32 para. 5

[^c10742771]: Words in s. 6(2) substituted (retrospective to 7.3.2001) by 2001 c. 9, s. 101(2)(5)

[^c10742791]: S. 6(5)-(9) inserted (1.5.1995) by 1995 c. 4, s. 146(3) (with Sch. 8 paras. 55(2), 57(1))

[^c10742801]: 1987 c. 16.

[^c10742811]: 1987 c. 16.

[^c10742821]: See Finance Act 1980 (c. 48), s. 106 and Sch. 17 para. 15; Finance Act 1981 (c. 35), s. 117

[^c10742831]: See Finance Act 1980 (c. 48), s. 106 and Sch. 17 paras. 14, 15

[^c10742841]: See Oil Taxation Act 1983 (c. 56), Sch. 4 para. 9(2)

[^c10742851]: See also Finance Act 1980 (c. 48), s. 106 and Sch. 17 para. 17

[^c10742861]: See Finance Act 1983 (c. 49), s. 36; Finance Act 1988 (c. 39, SIF 63:1,2), s. 138(1)

[^c10742871]: See Finance Act 1987 (c. 16), s. 66(5)(a)

[^c10742881]: Words substituted by Finance (No. 2) Act 1979 (c. 47), s. 21(1) in relation to chargeable periods and half years ending after 31 December 1978

[^c10743021]: S. 9 substituted by Finance Act 1981 (c. 35), s. 114(1) with effect whether the participator's net profit period ends before or after the passing of that Act

[^c10743031]: Wording amended without statutory authority to reflect the sense of the revised s. 9

[^c10743041]: See Finance Act 1980 (c. 48), s. 106 and Sch. 17 para. 18

[^c10743051]: Words substituted by Finance Act 1985 (c. 54), s. 91(1) with respect to any oil field in respect of which the first chargeable period ends after 30 June 1985

[^c10743061]: Words added by Finance Act 1985 (c. 54), s. 91(1) with respect to any oil field in respect of which the first chargeable period ends after 30 June 1985

[^c10743071]: See Oil Taxation Act 1983 (c. 56), s. 7(6)(b) for reduction of supplement when there are disposal receipts in any chargeable period ending after 30 June 1982

[^c10743081]: See Finance Act 1987 (c. 16), ss. 64(3), 65(6)(b), Sch. 13 para. 12(3) and Sch. 14 para. 13

[^c10743091]: Words substituted by Finance Act 1983 (c. 49), s. 37(2) and Sch. 8 Part II para. 4

[^c10743101]: Words substituted by Finance Act 1987 (c. 16), s. 64(2) and Sch. 13 Part II para. 3

[^c10743121]: See Finance Act 1981 (c. 35), s. 117(4)

[^c10743001]: S. 9A inserted (28.7.2000 with effect in relation to expenditure incurred on or after 21.3.2000) by 2000 c. 17, s. 139(1)(2)

[^c10743011]: 1980 c. 48.

[^c10743291]: See Finance Act 1980 (c. 48), s. 106 and Sch. 17 para. 9 relating to interests in oil fields transferred after 1 August 1980

[^c10743301]: S. 10(1)(a) modified (8.11.1995) by 1995 c. 45, s. 17(1), Sch. 5 Pt. I paras. 1, 11(a) S. 10(1)(a) modified (retrospectively) by 1999 c. 16, s. 94(2)

[^c10743311]: S. 10(1)(b) modified (27.7.1993) by 1993 c. 34 s. 209(3)

[^c10743321]: See Oil Taxation Act 1983 (c. 56), s. 4 and Sch. 1 para. 3

[^c10743331]: See Oil Taxation Act 1983 (c. 56), ss. 3(6) and 4

[^c10743341]: Words in s. 10(2) substituted by Finance Act 1991 (c. 31, SIF 63:1), s. 103(7)(a)(8).

[^c10743351]: Words in s. 10(2) substituted (11.5.2001 with effect as mentioned in s. 102(4) of the amending Act) by 2001 c. 9, s. 102(3)

[^c10743361]: S. 10(3)-(3H) substituted (11.5.2001 with effect as mentioned in s. 103(2) of the amending Act) for s. 10(3) by 2001 c. 9, s. 103(1)

[^c10743371]: Words substituted by Finance (No. 2) Act 1979 (c. 47), s. 21(3) deemed to have taken effect on 1 January 1979

[^c10743391]: 1968 c. 2.

[^c10744371]: S. 12 applied (6.3.1992 with effect as mentioned in s. 289(1)(2) of the amending Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 197(1), 289 (with ss. 60, 101(1), 171, 201(3))

[^c10744381]: Definition of “chargeable period” employed for purposes of Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 500

[^c10744391]: Definitions of "initial storage" and "initial treatment": see Oil Taxation Act 1983 (c. 56), Sch. 1 para. 1(4) in relation to expenditure on associated assets used in connection with an external field.

[^c10744401]: Definitions of “initial storage”, “oil field” and “participator” applied for purposes of Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 502

[^c10744411]: Definitions of "licence", "licensee" and "oil" applied for purposes of Finance Act 1988 (c.39, SIF 63:1,2), ss. 62-64.

[^c10744421]: Definition of “relevantly appropriated”: see Oil Taxation Act 1983 (c. 56), Sch. 2 para. 12(2)(b) in relation to oil purchased at place of extraction

[^c10744431]: Definitions of "relevant appropriation" applied for purposes of Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), S. 493(2)

[^c10744451]: Words in s. 12(1) repealed (16.7.1992 with effect as mentioned in ss. 55(3), 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), ss. 55(3), 74, 82, Sch. 15 para. 3(a), Sch. 18 Pt. VIII

[^c10744461]: Words in s. 12(1) inserted (16.7.1992 with effect as mentioned in s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74, Sch. 15 para. 3(b).

[^c10744481]: Paragraphs (b)–(e) substituted for paragraph (b) by Finance Act 1980 (c. 48), s. 109(2)(3) in relation to chargeable periods ending after 31 December 1979

[^c10744491]: Words substituted by Finance Act 1980 (c. 48), s. 109(2)(3) in relation to chargeable periods ending after 31 December 1979

[^c10744501]: Paragraph (ii) substituted by Finance Act 1980 (c. 48), s. 109(4) in relation to chargeable periods ending after 31 December 1979

[^c10744511]: Words in s. 12(1) inserted (16.7.1992 with effect as mentioned in s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74, Sch. 15 para. 3(c).

[^c10744521]: Words in s. 12(1) substituted (15.2.1999) by 1998 c. 17, s. 50, Sch. 4 para. 7(3) (with s. 9(1)(2)); S.I. 1999/161, art. 2(1)

[^c10744531]: 1964 c. 28 (N.I.)

[^c10744541]: S. 12(1): definition inserted (3.5.1994) by 1994 c. 9, s. 236(4)

[^c10744551]: Words in definition of “ oil field” in s. 12(1) added (27.7.1993) by Finance Act 1993 c. 34, s. 185(5)

[^c10744561]: 1962 c. 58.

[^c10744571]: Words inserted by Finance (No. 2) Act 1979 (c. 47), s. 20(1) in relation to expenditure claimed after 31 December 1978

[^c10744581]: Words in s. 12(1) inserted (16.7.1992 with effect as mentioned in s. 74(5) of the amending Act) by Finance (No. 2) Act 1992 (c. 48), s. 74, Sch. 15 para. 3(d).

[^c10744591]: Definitions inserted by Finance Act 1980 (c. 48), s. 109(5) in relation to chargeable periods ending after 31 December 1979