Corporation Tax Act 2010 section 285

Valuation where appropriation to refining etc

Section 285 deals with how oil is valued for corporation tax purposes when an oil-producing company does not sell its oil to a third party but instead transfers it into another part of its own business, such as refining, and where the petroleum revenue tax (PRT) rules do not apply to that transfer.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.