Guidance

Oil and gas: tax and government revenues

Oil Tax: government revenues

• From: Oil and Gas Authority
• Published: 9 October 2015
• Last updated: 26 August 2016 — See all updates

This guidance was withdrawn on 6 October 2016

The Oil & Gas Authority launched a new website on 3 October 2016 to reflect its new status as a government company.

This formalises the transfer of the Secretary of State’s regulatory powers in respect of oil and gas to the OGA, and grants it new powers. This website will no longer be updated. Visitors should refer to www.ogauthority.co.uk

Government revenues from UK oil and gas production

This page gives links to high level information on Government revenues from the UK oil and gas production. Further information on government revenues from UK oil and gas production is available on the HM Revenue & Customs website.

Table showing Government revenues from UK oil and gas production 1964/65-2015/16 (PDF, 53.3 KB, 1 page)

Charts showing Government revenues from UK oil and gas production 1976/77-2020/21 (2015/16 prices) (PDF, 37.9 KB, 3 pages)

Extractive Industries Transparency Initiative – reporting process for material payments in calendar year 2015

An explanation of the EITI and UK implementation of it are given here. The material below, which relates to extraction of mining and quarrying as well as to extraction of oil and gas, and updates to it will in due course be found here. Companies (or groups of companies) undertaking extractive activities in the UK are requested to return completed waivers and templates to accountancy firm Moore Stephens, the Independent Administrator appointed by the UK EITI Multi-Stakeholder Group.

The templates allow companies to report in-scope payments they made to government agencies during calendar year 2015 where those payments for any individual revenue stream are material i.e. in excess of a total of £86,000 per revenue stream.

For oil and gas companies the in-scope payment streams for 2015 are:

• Ring Fence Corporation Tax and Supplementary Charge
• Petroleum Revenue Tax
• Petroleum Licence Fees
• The OGA Levy
• Payments to The Crown Estate relating to UK extractive industries

For mining and quarrying companies the in-scope payment streams for 2015 are:

• Corporation Tax
• Payments to the Coal Authority
• Payments to The Crown Estate relating to UK extractive activities
• Payments under section 106 of the Town and Country Planning Act 1990 and equivalent legislation

Companies are also asked to provide information relating to individuals that have a material influence on the company through their shareholding in the company, including individuals with political influence. Here is a guide on beneficial ownership (PDF, 652 KB, 5 pages).

Waiver form (MS Word Document, 38.5 KB) (for use by both oil and gas companies and by mining and quarrying companies); the waiver of confidentiality is required so that HMRC, The Crown Estate and the Coal Authority (as appropriate) can provide information about payments received from the company (or group of companies) covered by the waiver.

Template for oil and gas companies (MS Excel Spreadsheet, 330 KB) to complete and return to Moore Stephens

Guidance for oil and gas companies (PDF, 870 KB, 15 pages) is also available; this includes a step-by-step guide to completing the template.

Template for mining and quarrying (MS Excel Spreadsheet, 199 KB) companies to complete and return to Moore Stephens

Guidance for mining and quarrying companies (PDF, 835 KB, 19 pages) is also available; this includes a step-by-step guide to completing the template.

Further Information

This page is maintained by the Oil and Gas Authority (OGA). The OGA contact for further information is:

Mike Earp
4th Floor, 21 Bloomsbury Street
London
WC1B 3HF

Email: mike.earp@oga.gsi.gov.uk

Tel: 0300 067 1604 / 07785 692644

Published 9 October 2015
Last updated 26 August 2016 + show all updates

1. 26 August 2016

   EITI documents - (added)

2. 4 July 2016

   General updates

3. 9 October 2015

   First published.