Part 6 U.K. Oil

84 Capital allowances for oil decommissioning expenditure U.K.

Schedule 38 contains provision about capital allowances for oil decommissioning expenditure.

85 Blended oil U.K.

Schedule 39 contains provision about the treatment of blended oil for the purposes of petroleum revenue tax.

86 Chargeable gains U.K.

Schedule 40 contains provision about chargeable gains in oil trades.

87 Oil assets put to other uses U.K.

Schedule 41 contains provision about oil production assets put to certain other uses.

88 Former licensees and former oil fields U.K.

Schedule 42 contains provision about the treatment of certain former licensees and former oil fields for the purposes of petroleum revenue tax.

89 Abolition of provisional expenditure allowance U.K.

Schedule 43 contains provision abolishing provisional expenditure allowance.

F1 90 Supplementary charge: reduction for certain new oil fields U.K.

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Textual Amendments

F1 S. 90 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 711, 3 Pt. 1 (with Sch. 2)

91 Miscellaneous amendments U.K.

Schedule 45 contains miscellaneous amendments relating to oil taxation.