OT26041 - Capital Allowances: Research and Development Allowances: US Oil & Gas Partnerships

US Oil and Gas Partnerships were commonly used in the 1980s to obtain front end relief for UK individuals for exploration in the US. For many of these schemes there was no real exploration activity.

RDA is available where drilling is with the intention of discovering oil in an area of geological uncertainty and there is uncertainty as to whether or not oil is present.