OT13775 | PRT: non-field expenditure - claims
From HM Revenue & Customs · Oil Taxation Manual
Claims for abortive exploration, exploration and appraisal and research expenditure are made under OTA75\SCH7. There is no time limit for such claims, there are no specified claim periods and claims for supplement are not permitted.
Error or mistake, OTA75\SCH7\PARA1(2)
If a participator makes a claim under OTA75\SCH7 and subsequently discovers that it has made an error or mistake in the claim, this subparagraph permits a supplementary claim to be made.
Application of OTA75\SCH5, OTA75\SCH7\PARA1(3)
A number of the provisions of OTA75\SCH5 (see OT04390) are applied (with appropriate modification) to OTA75\SCH7, namely
Penalties
The penalty provisions relating to fraudulent or negligent claims etc. (see OT18760) are applied to OTA75\SCH7 by OTA75\SCH2\PARAS8-9.
Prevention of double allowance
See OT13790.
Informal claims
See OT04740.