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Contents

Official guidance
Oil Taxation Manual

OT42500 · Non-Residents Working on the UK Continental Shelf: Capital Allowances

  • OT42501 · Outline
  • OT42520 · Plant & machinery brought into the UK - Entitlement to allowance
  • OT42530 · Plant & machinery brought into the UK - Open market value but limited to original cost if lower
  • OT42540 · Plant & machinery brought into the UK- Valuations
  • OT42550 · Plant & machinery allowances - Disposal events
  • OT42560 · Plant & machinery allowances - Foreign currency
  • OT42570 · Part use of plant & machinery - main rule and single asset rule
  • OT42590 · Part use of plant & machinery - Reduction of allowances and charges on expenditure in a single asset pool
  • OT42600 · Part use of plant & machinery - Effect of significant reduction in use for purposes of qualifying activity
  • OT42610 · Part use of plant & machinery - Treatment of idle time
  • OT42620 · Rigs as ships
  1. Non-Residents Working on the UK Continental Shelf: Capital Allowances: contents
  2. Non-Residents Working on the UK Continental Shelf: Capital Allowances - Plant & machinery brought into the UK- Valuations

OT42540 | Non-Residents Working on the UK Continental Shelf: Capital Allowances - Plant & machinery brought into the UK- Valuations

From HM Revenue & Customs · Oil Taxation Manual

The company’s view of the open market value of the mobile asset at the entry date should be obtained and it is normal practice in significant cases to request an independent appraisal of the rig or vessel in support of the company’s own valuation.

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