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Contents

Official guidance
Oil Taxation Manual

OT30038 · Capital Gains: Undeveloped Areas

  • OT30040 · Introduction
  • OT30041 · Overseas Licences
  • OT30042 · Disposals at arms-length
  • OT30043 · Definitions - 1
  • OT30044 · Definitions - 2
  • OT30045 · Three Dimensional Co-Ordinates
  • OT30046 · Date of Conditional Disposals
  • OT30047 · Areas with more than one prospect
  • OT30048 · Work Programme Obligation
  • OT30049 · Exploration Work
  • OT30050 · Appraisal Work
  • OT30051 · Definition of Oil
  • OT30052 · Licence Area
  1. Capital Gains: Undeveloped Areas: contents
  2. Capital Gains: Undeveloped Areas - Overseas Licences

OT30041 | Capital Gains: Undeveloped Areas - Overseas Licences

From HM Revenue & Customs · Oil Taxation Manual

TCGA92\S194 did not apply to the disposal of overseas licences before 13 September 1995. FA 1996 extended TCGA92\S194 to overseas licences and equivalent agreements.

The purpose of extending its application was primarily deregulatory in that it would avoid the need to value non-cash consideration.

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