Oil Taxation Act 1975 Schedule 2 paragraph 10

Assessments to tax and determinations of loss, etc.

Paragraph 10 sets out the procedure by which HMRC assesses a participator to petroleum revenue tax on profits from an oil field, or determines that an allowable loss or nil result has arisen, and the rules governing those assessments and determinations.

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.