CG69400 - Oil exploration and exploitation: Large Business Oil & Gas Sector

TCGA92/S193 to TCGA92/S200 provide special rules covering the calculation of chargeable gains or allowable losses on assets used in oil exploration or exploitation. These assets include licences, assets such as plant and machinery used in connection with an oil field and unquoted shares deriving the greater part of their value from oil exploration and exploitation assets.

Any matters concerning such assets should normally be referred directly to (This content has been withheld because of exemptions in the Freedom of Information Act 2000) .

Where, however, a valuation of unquoted shares in an oil company is required, form CG30 should, as normal, be sent to Shares and Assets Valuation, who will consult with (This content has been withheld because of exemptions in the Freedom of Information Act 2000) as necessary.