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Official guidance
Oils Technical Manual

HCOTEG151500 · Deficiencies in Warehoused Oil: Gains and losses shown in trade records

  • HCOTEG151510 · Gains and losses shown in trade records: Purpose of this section
  • HCOTEG151530 · Gains and Losses shown in trade records: Causes of variation
  • HCOTEG151540 · Gains and Losses shown in trade records: Undue variation in gain or loss
  • HCOTEG151560 · Gains and losses shown in trade records: Explanations and payment of duties and VAT
  1. Deficiencies in Warehoused Oil: Gains and losses shown in trade records
  2. Gains and Losses shown in trade records: Causes of variation

HCOTEG151530 | Gains and Losses shown in trade records: Causes of variation

From HM Revenue & Customs · Oils Technical Manual

Variations in loss figures may be explained by:

  1. increased rates of evaporation arising from

  2. steeply fluctuating temperatures;

  3. high winds; and

  4. changes in operational patterns (e.g. smaller receipt quantities, lower levels in storage tanks, blending innovations):

  5. accounting tolerances (e.g. 2mm in tank dips):

  6. an accident dealt with under HCOTEG152000 ’Accidents in the course of delivery’ and ‘Accidents in an installation’.

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