Corporation Tax Act 2010 section 356K

Overview of Part

Section 356K provides an overview of Part 8ZA, which sets out how corporation tax applies to the activities of oil contractors.

• Part 8ZA governs the corporation tax treatment of oil contractor activities
• Chapter 2 of the Part sets out the basic definitions used throughout
• Chapter 3 requires oil contractor activities to be treated as a separate trade for tax purposes
• Chapter 4 deals with how profits from oil contractor activities are to be calculated