COURSE OBJECTIVES: To provide an introduction to the workings of the UK direct taxes which apply to companies exploring for and producing oil and gas in the UK and on the UK Continental Shelf.
COURSE CONTENT
The course will include:
- A brief introduction to the UK Oil and Gas licensing regime
- An outline of Petroleum Revenue Tax (PRT)
- Overview
- Income
- Expenditure
- Non-field expenditure
- Allowances & reliefs
- Tariffing
- Details of the special provisions within the Corporation Taxes Acts that apply to oil companies, and in particular the Ring Fence and Supplementary Charge
- Case studies
WHO SHOULD ATTEND
The course is suitable for all those who need a background to UK oil and gas taxation including:
- Tax professionals who have recently moved into the area
- Finance staff involved in tax reporting
- Commercial and legal staff who need to have a broad understanding of the taxation landscape
A basic understanding of corporation tax will be assumed.
“Very useful and informative introduction to upstream tax. Good handouts. Interesting delivery and content by lecturer.”
Would you like this course run in-house? Call us on 0207 566 8207 to find out more