Oil Taxation Act 1975

Management of tax U.K.

1 (1) The tax shall be under the care and management of the Board; and the provisions of the M1 Taxes Management Act 1970 specified in the first column of the following Table shall apply in relation to the tax as they apply in relation to a tax within the meaning of that Act, subject to any modifications specified in the second column of that Table and with the substitution, for references to Part IX of that Act or to the Taxes Acts, of references to this Part of this Act and, for references to chargeable periods within the meaning of that Act, of references to chargeable periods within the meaning of this Part of this Act.

Table

Provisions applied	Modifications
Section
1(3)
4
33	In subsection (1), for the words from “year of assessment” to “in” substitute “chargeable period for”.
	In subsection (3), after “assessments made on” insert “or determinations made in relation to”.
	In subsection (5), for the words following “profits” substitute “means assessable profits.”
34
36	Omit the reference to section 41, after “default”, wherever occurring, insert “or any neglect” and at the end add the following paragraph—
	“For the purposes of this section any fraud, wilful default or neglect committed at any time by a responsible person for an oil field in connection with or in relation to the tax shall be treated as having been committed on behalf of each of the participators in that field at that time.”
48
49(1)
50(1)–(5)	Omit the proviso to subsection (5).
5 1
5 2
53
5 6
58(2)
(3)	. . . F1 , for paragraphs (a) and (b), substitute “ “proceedings in Northern Ireland” means proceedings in respect of an oil field which is wholly situated in an area for which licences can be granted under the M2 Petroleum (Production) Act (Northern Ireland) 1964”.
60	In subsection (1), omit the words following “charged therewith”.
61	In subsection (1), omit the words from “distrain upon” to “is charged or”.
62(1)	Omit “or which are payable for the year in which the seizure is made” and for “one year” and “one whole year” substitute “two chargeable periods”.
(2)	For “one whole year” substitute “two chargeable periods”.
63
64(1)	For “one year” and “one whole year” substitute “two chargeable periods”.
(2)	For “one whole year” substitute “two chargeable periods”.
66
67
68
69	In paragraph (a), substitute a reference to section 68 as applied by this paragraph for the reference to the sections there specified.
70(1)
(2)	For the reference to section 86 or 87 substitute a reference to paragraph 15 of this Schedule.
89(2)	For the reference to the rate or rates of interest prescribed by subsection (1) of that section substitute a reference to the rate of interest mentioned in paragraph 15 of this Schedule.
(3)
90
98	Omit the Table, and for references to any of the provisions specified in the Table substitute references to section 51 as applied by this paragraph or to paragraph 7 of this Schedule.
99
100(1)	Omit the words from the beginning to “this section”.
(2)
(3)	Omit the reference to the General Commissioners.
(6)–(9)
101	For the reference to income or chargeable gains substitute a reference to assessable profits.
102
103(1)–(3)	Omit the proviso to subsection (2).
104
105
107(1)–(3)
108	In subsection (2), for the words from the beginning to “Acts” substitute “The tax chargeable”.
112	In subsection (1), after “assessment to tax” and “the assessment” insert “or determination” and after “duplicate of assessment to tax” and “duplicate of assessment” insert “or of determination”.
113(1A)
(3)	After “assessment” insert “determination” and after “notice of assessment” insert “notice of determination”.
114	After “assessment” wherever occurring insert “or determination”.
115(1)–(3)
118(1)
(2)

(2) Any expression to which a meaning is given in this Part of this Act which is used in a provision of the M3 Taxes Management Act 1970 applied by this paragraph shall, in that provision as so applied, have the same meaning as in this Part of this Act.

Textual Amendments

F1 Words repealed by Finance Act 1988 (c. 39, SIF 63:1,2), s. 148, Sch. 14 Part IX and S.I. 1989 No. 473 (c. 17)

Modifications etc. (not altering text)

C1 See also Finance Act 1981 (c. 35), s. 128(1) and Sch. 16 para. 2; Oil Taxation Act 1983 (c. 56), Sch. 4 para. 9(1)

Marginal Citations

M1 1970 c. 9.

M2 1964 c. 28(N.I.)

M3 1970 c. 9.