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Legislation
Oil Taxation Act 1975

PART I PETROLEUM REVENUE TAX

  • Section 1 Petroleum revenue tax.
  • Section 2 Assessable profits and allowable losses.
  • Section 3 Allowance of expenditure (other than expenditure on long-term assets and abortive exploration expenditure).
  • Section 4 Allowance of expenditure on long-term assets.
  • Section 5 Allowance of abortive exploration expenditure.
  • Section 5A Allowance of exploration and appraisal expenditure.
  • Section 5B Allowance of research expenditure.
  • Section 6 Allowance of unrelievable loss from abandoned field.
  • Section 7 Relief for allowable losses.
  • Section 8 Oil allowance.
  • Section 9 Limit on amount of tax payable.
  • Section 9A Operating expenditure incurred while section 9 applies.
  • Section 10 Modification of Part I in connection with certain gas sold to British Gas Corporation.
  • Section 11 Application of Provisional Collection of Taxes Act 1968.
  • Section 12 Interpretation of Part I.
  • Section 12A Date of delivery or appropriation: shipped oil not sold at arm's length
  1. Part I · PETROLEUM REVENUE TAX
  2. Application of Provisional Collection of Taxes Act 1968.

Section 11 | Application of Provisional Collection of Taxes Act 1968.

From legislation.gov.uk

Section 1 of the Provisional Collection of Taxes Act 1968 shall apply to petroleum revenue tax ; and accordingly, in subsection (1) of that section after the words “income tax” there shall be inserted the words “ petroleum revenue tax ”.

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