Finance Act 1973

[F1 4A (1) Subject to the following provisions of this Schedule, the power of the Board under paragraph 4 above to serve a notice in respect of tax remaining unpaid as there mentioned shall also apply where— U.K.

(a) tax is assessed on any person not resident in the United Kingdom as mentioned in paragraph 4(1)(a) or (b) but more than one licence under [F2 Part I of the Petroleum Act 1998] is the basis for the assessment; or

(b) tax assessed on any such person includes, but is not limited to, tax assessed on him as so mentioned (whether by reference to one or to more than one such licence);

but in any such case the amount the holder of any licence in question may be required to pay by a notice under that paragraph shall be the amount of the tax remaining unpaid under the assessment which is attributable to the profits or gains in respect of which that licence was the basis for the assessment, together with a corresponding proportion of any interest due as mentioned in paragraph 4(1).

(2) For the purposes of sub-paragraph (1) above the amount of the tax remaining unpaid under the assessment which is attributable to the profits or gains in respect of which any licence in question was the basis for the assessment is such part of the total amount of that tax as bears to that total amount the same proportion as the proportion borne by the amount of the profits or gains in respect of which that licence was the basis for the assessment to the total amount of the profits or gains in respect of which the assessment was made.]

Textual Amendments

F1 Sch. 15 para. 4A inserted by Finance Act 1984 (c. 43), s. 124(2)

F2 Words in Sch. 15 para. 4A(1)(a) substituted (15.2.1999) by 1998 c. 17, s. 50, Sch. 4 para. 5 (with Sch. 4 para. 5); S.I. 1999/161, art. 2(1)