Updates: Oil Taxation Manual
2025
Credit and Debit notes: Legal basis for credit notes
Made corrections to the Regulations - added 15C, amended to 24A.
Other Invoicing arrangements: Authenticated receipts: Failure to provide authenticated receipts
Amendment to change "the local office" to HMRC.
Amended "VISION" to ETMP.
Other Invoicing arrangements: Self-billing: Non compliance with self-billing rules
Amendment made to change "the commissioners" to HMRC
Fixed link to VAT Notice 700/62 Self-billing
Corrected team name from VPOT VRAP to VAT Infrastructure and Soft Drinks Industry Levy Policy team in Indirect Tax.
Other Invoicing arrangements: Self-billing: What if the conditions are not met?
Reworded the second point "the supplier remains responsible for issuing a VAT invoice"
Other Invoicing arrangements: Self-billing: Introduction
Link to Self-billing (VAT Notice 700/62) fixed.
Edited - Replaced "the Commissioners'" with the correct term "HMRC's"
Correction made to change "the local office" to HMRC.
Other Invoicing arrangements for particular businesses: Retailers: Less detailed VAT invoices
Amendment made to the 2nd bullet point to "if the registered person is based in Northern Ireland, the supply is not to a person from another EU member state"
Amendment made to reference Paragraph 16.6.2 and fixed link to VAT Notice 700.
Amendment made to change "the department" to HMRC
VAT invoice: Description of goods or services
Updated Page and Short title to "VAT invoice: Description of goods or services"
Added content providing details on VAT invoices relating to description of goods or services.
Added sub heading "Use of coded descriptions of goods"
Deleted content from the body that is unrelated to unit price. The removed content has been moved to VATREC5010 and VATREC5020 as appropriate.
VAT invoice: VAT Invoices for Northern Ireland intra-EC supplies
Updated page/short title to "VAT Invoices for Northern Ireland intra-EC supplies"
Updates to the contents body with details added on VAT Regulations 1995, regulation 14(2), intra-EC Exempt supplies and Zero Rated Supply.
Computer invoicing: Introduction
Deleted the line relating to guidance from Audit Service intranet site and VAT Control notes as link is broken and no longer exists.
2024
Decommissioning and abandonment: reimbursement by defaulter in respect of abandonment expenditure
Legislation was repealed in 2013.
Legislation repealed in 2013.
2023
Energy Profits Levy: Meaning of decarbonisation expenditure
Content added.
Corporation Tax Ring Fence: Energy Profits Levy: Contents
Ref number edited.
2022
Oil Taxation Manual: update index
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Oil Taxation Manual: recent changes
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Oil Taxation Manual: recent changes
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Oil Taxation Manual: recent changes
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Oil Taxation Manual: recent changes
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Oil Taxation Manual: recent changes
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Oil Taxation Manual: recent changes
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2021
PRT: valuation of crude oils and products - how to calculate category 1 values
Tables amended in line with accessibility guidelines.
2020
Transferable tax history - Activation - Introduction
Link corrected.
Corporation Tax Ring Fence: Losses and Group Relief: Group Relief
Loss reform changes.
New loss rules changes.
Oil contractors ring fence: the effect of the ring fence
Changes to reflect F(No2)A17 loss relief streaming rules.
2019
PRT: valuation of crude oils and products - how to calculate category 1 values
Valuation methodology amendments.
Review date amended.
PRT: valuation of crude oils and products - category 1 oil value calculation mechanism
Methodology details amended.
PRT: appendices - PRT/accounts reconciliation (full version)
Page archived.
PRT: appendices - PRT/accounts reconciliations (modified version)
Page archived.
Links to: OT19025, OT19040, OT19075, OT19140, OT19175 archived.
PRT: appendices - valuation of LPG
Archiving reason text added.
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PRT: appendices - review of LPG methodology
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Interest and Financing: Charges which were not allowed against Ring Fence profits
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Interest and Financing: Charges paid to associates
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PRT: royalty - licence debit and credit
Archiving reason text added.
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PRT: royalty - licence payments
Archiving reason text added.
Page archived.
PRT: royalty - royalty paying fields
Archiving reason text added.
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PRT: royalty - royalty payable
Archiving reason text added.
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Archiving reason text added.
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PRT: royalty - periodic payments
Archiving reason text added.
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PRT: royalty - transfers of interest
Archiving reason text added.
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PRT: royalty - chargeable or allowable
Archiving reason text added.
Page archived.
Links to: OT05501, OT05505, OT05510, OT05515, OT05520, OT05525, OT05530, OT05535, OT05540 archived.
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Link to OT05500 archived.
PRT: supplement - contractor financing: example
Page archived.
Link to OT12600 archived.
Corporation tax ring fence: onshore allowance - reduction of adjusted ring fence profits
Sections on straddling periods and interaction of field allowance and onshore allowance removed.
PRT: Foreign Fields - Double Taxation Relief
Rewritten to reflect changes to legislation.
Capital Allowances: Industrial Buildings or Structures: contents
Page archived.
Links to OT26080 OT26200 OT26400 removed.
Capital Allowances: Research and Development Allowances: Introduction
Para on exploration expenditure supplement deleted as legislation repealed and associated guidance archived.
Corporation tax ring fence: advance pricing agreements
Updated to reflect change in practice.
Corporation Tax Ring Fence: Tariff Receipts and Tax-Exempt Tariffing Receipts
Amended to reflect changes in FA18.
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Capital Allowances: Industrial Buildings or Structures - Abandonment and Demolition
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Corporation tax general: take or pay gas sales contracts
Oil Taxation Manual Update Project
Capital Allowances: Exploration Expenditure Supplement: Introduction
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Capital Allowances: Exploration Expenditure Supplement: Accounting periods
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Capital Allowances: Exploration Expenditure Supplement: Unrelieved Group Ring Fence Profits
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Capital Allowances: Exploration Expenditure Supplement: Relevant percentage for calculating the EES
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Capital Allowances: Exploration Expenditure Supplement: Pre-Commencement Supplement
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Capital Allowances: Exploration Expenditure Supplement: Claims for pre-commencement EES
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Capital Allowances: Exploration Expenditure Supplement: Post-Commencement Period
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Capital Allowances: Exploration Expenditure Supplement: Ring fence losses and Qualifying E&A losses
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Capital Allowances: Exploration Expenditure Supplement: Post-commencement EES - Using the pools
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Capital Allowances: Exploration Expenditure Supplement: contents
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Capital allowances - extended ring fence expenditure supplement for onshore activities : contents
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Capital allowances: extended ring fence expenditure supplement for onshore activities- introduction
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Transferable tax history - Introduction
TTH guidance added.
Transferable Tax History - Uplifted Decommissioning Costs Estimate
Typo.
Oil Industry accounting: Generally Accepted Accounting Practice
Oil Taxation Manual Update Project
Oil Taxation Manual Update Project
Oil Industry accounting: adoption of IFRS by UK companies
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Oil Industry accounting: IFRS 6 - exploration for and evaluation of mineral resources
Manual update project.
Oil Industry accounting: use and application of UK accounting standards
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Oil Industry accounting: statements of recommended practice
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Oil Industry accounting: successful efforts and full cost methods of accounting
Oil Taxation Manual Update Project
Oil Industry accounting: the full costs accounting method
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Oil Industry accounting: the successful efforts accounting method
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Oil Industry accounting: joint venture accounting - FRS 102
Oil Taxation Manual Update Project
Oil Taxation Manual Update Project
Oil Industry accounting: joint venture accounting - IFRS
Oil Taxation Manual Update Project
Oil Taxation Manual Update Project
Oil Industry accounting: underlift and overlift
Oil Taxation Manual update project.
Oil Industry accounting: disclosure of commercial reserve quantities
Oil Taxation Manual update project.
Oil Industry accounting: contents
Links to OT02025, OT02040, OT02070, OT02086, OT02087 archived.
Capital gains: consideration other than cash: licence swaps - disposals made before 22 April 2009
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PRT: penalties - penalty provisions: incorrect returns
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PRT: penalties - what is meant by fraudulently or negligently
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PRT: penalties - amount of penalty: participator
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PRT: penalties - amount of penalty: responsible person
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PRT: penalties - incorrect statement of payment on account
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Links to OT18760, OT18770, OT18780, OT18785, OT18790, OT18810 archived.
PRT: penalties - chargeable periods ending before 30 June 2010
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Links to OT18760 archived.
The NSTA role in the UK North Sea: DESNZ and the North Sea Transition Authority
Oil Taxation Manual Update Project
2018
References to Jersey changed to Greece and consequentials.
PRT: Safeguard - Interaction with Spreading Election
Header amended. Note added to reflect repeal of legislation.
2017
PRT appendices - elections for oil fields to become non-taxable
This page has been changed to reflect changes made at Autumn Statement 2016 to the opt-out for PRT. The Introduction and How Legislation Works sections have been changed and two new sections have been added.
The change to content is to reflect changes made at Autumn Statement 2016.
PRT: administration: returns by responsible person - PRT 2
This change has been made to reflect changes to PRT administration made at Autumn Statement 2016.
PRT: administration: returns by participators - PRT 1
This change reflects changes to PRT administration at Autumn Statement 2016.
PRT: administration: returns by participators - PRT 1A
This change reflects a change to the opt-out for PRT made at Autumn Statement 2016.
PRT: administration: returns by participators - PRT 6
This change reflects changes made to PRT administration at Autumn Statement 2016
PRT: administration: payment provisions - payment on account - PRT 6
This change reflects changes to PRT administration made at Autumn Statement 2016.
PRT: administration: payment provisions - payment on account
This change reflects changes made to PRT administration at Autumn Statement 2016.
PRT: administration: payment provisions - instalments
This reflects changes made to PRT administration made at Autumn Statement 2016
PRT: oil allowance - background
This change reflects changes made to PRT administration at Autumn Statement 2016.
PRT: oil allowance - amount of allowance
Text deleted to reflect changes to PRT administration made at Autumn Statement 2016.