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OT15830 | PRT: tax-exempt tariffing receipts - definitions of New Field, Existing Field & UK Recommissioned Field

From HM Revenue & Customs · Oil Taxation Manual

OTA83\S6A(5)

New field

For the purposes of tax-exempt business a new field is:

  1. an oil field for no part of which had development consent been granted to a licensee (OT03100) or a programme of development been served on a licensee or approved, by the Secretary of State before 9 April 2003, or

  2. a foreign field (OT15840) for no part of which had development consent been granted to a licensee or a programme of development been served on a licensee or approved, by the government of country other than the UK before 9 April 2003.

Development has the same meaning as in FA83\S36(4).

Existing field

For the purposes of tax-exempt business an existing field is any oil field (OT03100) or foreign field that is not a new field.

UK Recommissioned Field

For the purposes of tax exempt business, from 1 July 2007 a recommissioned field (OT03515) is any field which is not a new field or a qualifying existing field and the conditions in FA93\S185(1A) are satisfied.