PART XII SPECIAL CLASSES OF COMPANIES AND BUSINESSES
C1CHAPTER V
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Modifications etc. (not altering text)
C2 PETROLEUM EXTRACTION ACTIVITIES
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Modifications etc. (not altering text)
C2
Pt. 12 Ch. 5 applied (29.4.1996) by Finance Act 1996 (c. 8), Sch. 8 para. 1(4)
501 Interest on repayment of PRT.
Where any amount of petroleum revenue tax paid by a participator in an oil field is, under any provision of Part I of the 1975 Act, repaid to him with interest, the amount of the interest paid to him shall be disregarded in computing the amount of his income for the purposes of corporation tax.
Pt. 12 Ch. 5 modified (27.7.1999) by Finance Act 1999 (c. 16), s. 98