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Contents

Official guidance
Oil Taxation Manual

OT20200 · Corporation tax general

  • OT20201 · Background
  • OT20202 · Overview of the main types of costs incurred in oil exploration and production - introduction
  • OT20203 · Overview of the main types of costs incurred in oil exploration and production - exploration
  • OT20204 · Overview of the main types of costs incurred in oil exploration and production - production
  • OT20205 · Overview of the main types of costs incurred in oil exploration and production - decommissioning and abandonment
  • OT20206 · Payments under Licences
  • OT20250 · Commencement of trade
  • OT20251 · World-wide activities
  • OT20252 · Sale of a small quantity of oil
  • OT20254 · Link with mining
  • OT20255 · Cessation of trade
  • OT20300 · Take or pay gas sales contracts
  • OT20310 · Intangible fixed assets - oil licences
  • OT20315 · Intangible fixed assets - oil licences - exclusion from the scheme
  • OT20400 · EU emissions trading scheme - introduction
  • OT20405 · EU emissions trading scheme - phase I
  • OT20410 · EU emissions trading scheme - phase II
  • OT20415 · EU emissions trading scheme - phases III and IV
  1. Corporation tax general: contents
  2. Corporation tax general: overview of the main types of costs incurred in oil exploration and production - introduction

OT20202 | Corporation tax general: overview of the main types of costs incurred in oil exploration and production - introduction

From HM Revenue & Customs · Oil Taxation Manual

There are three broad stages in the cycle of the development and exploitation of an oil bearing area. These are

  1. Exploration

  2. Production

  3. Decommissioning and abandonment

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