Oil Taxation Act 1983 Schedule 5 paragraph 4

Transitional provisions

Schedule 5 paragraph 4 provides transitional rules for the move to the new expenditure claim and allowance regime introduced by the Oil Taxation Act 1983, ensuring that spending incurred before the new rules took effect is handled properly.

• Expenditure incurred before 1 January 1983 that had not yet been allowed under the old rules could be brought into the new regime, subject to the revised claim procedures.
• Claims for pre-1983 expenditure already submitted but not yet determined were to be treated as if made under the new provisions, preserving claimants' existing rights.
• Any allowances already given under the old rules before the changeover date were not disturbed, so there was no double-counting or clawback of relief already received.
• The transitional rules ensured continuity, so that participators were neither disadvantaged nor given a windfall simply because the legislative framework changed partway through the life of their oil fields.