22 Oil activities: tariff receipts etc
Finance Act 2018 (2018 c 3) | Legislation

22  Oil activities: tariff receipts etc

(1)     Chapter 4 of Part 8 of CTA 2010 (oil activities: calculation of profits) is amended as follows.

(2)     In section 291 (corporation tax treatment of oil activities: tariff receipts etc), for subsection (9) substitute—

“(9)     In this section, “tariff receipt” has the meaning given by section 291A.

(10)     So far as it would not otherwise be the case, anything that constitutes a tariff receipt or a tax-exempt tariffing receipt for the purposes of the Oil Taxation Act 1983 is to be treated as a “tariff receipt” for the purposes of this section.”

(3)     After section 291 (but before the italic heading preceding section 292) insert—

“291A Meaning of “tariff receipt”

(1)     A “tariff receipt” of a participator in an oil field is the amount or value of any consideration received or receivable by the person in respect of—

(a)     the use of a ring fence asset, or

(b)     the provision of services or other business facilities (of whatever kind) in connection with the use, otherwise than by the participator,

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