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Contents

Official guidance
Oil Taxation Manual

OT62000 · Transferable tax history - Effect of a TTH election on the seller

  • OT62010 · Profits cease to be treated as the sellers
  • OT62020 · Additional profits
  • OT62030 · Reduced profits
  • OT62040 · Functional Currency
  • OT62050 · Supplementary Charge
  • OT62060 · Remaining Adjusted ring fence profits
  1. Transferable tax history - Effect of a TTH election on the seller: contents
  2. Transferable tax history - Effect of a TTH election on the seller - Supplementary Charge

OT62050 | Transferable tax history - Effect of a TTH election on the seller - Supplementary Charge

From HM Revenue & Customs · Oil Taxation Manual

Where ring fence profits of an AP have been transferred under a TTH election, the corresponding proportion of adjusted ring fence profits will also have been transferred. The seller will also immediately and irreversibly be treated as never having made those adjusted ring fence profits and not having paid the Supplementary Charge due on those profits.

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