Notes:

(1) Licence fees include receipts from fees for onshore and offshore petroleum exploration and production licenses, including initial and periodic payments and tender receipts from offshore licensing of £37 million from the 4th round in 1971/72, £33 million the 8th round in 1982/83 and £121 million from the 9th round in 1984/85.

(2) Supplementary Petroleum Duty (SPD) was introduced with effect from 1 January 1981 by the 1981 Finance Act and lapsed after 31 December 1982; it was payable at the rate of 20% on the gross value of oil and gas produced under UK licences less an allowance per field of 1 million tonnes per year; it did not apply to PRT-exempt sales of gas to the British Gas Corporation.

(3) Advance Petroleum Tax (APRT) is included with PRT. The net PRT repayment in 1991/92 and low net receipts in 1992/93 resulted from high tax-relievable expenditure claimed on some fields.

(4) The level of Corporation Tax receipts in 1993/94 reflected low liabilities in 1992 (paid in the following financial year) and repayment resulting from lower settlements for earlier years.

(5) The ACT (Advance Corporation Tax) Set-off is estimated because the dividends attributable to UK oil and gas cannot be separately identified from other dividends.

(6) Mainstream Corporation Tax (CT) equals CT before the ACT Set-off less the estimated ACT Set-off.

(7) Supplementary charge in respect of ring fence trades introduced from 17 April 2002.

(8) The gas levy was introduced in 1981 to capture the rent accruing to the nationalised British Gas Corporation from purchasing PRT-exempt gas under long term contracts signed before the general rise in gas prices. It was abolished with effect from 1 April 1998. The yield from gas levy is not included in total Government revenues because it is categorised as a tax on expenditure rather than on income from oil and gas production.

(9) Provisional estimates; the forecasts for 2004/05 are consistent with the March 2004 Financial Statement and Budget Report.

This data was last updated on : June 2004 and is due to be updated on : June 2005

If any errors are found or if you have any comments or other queries please contact:

Mike Earp
email: mike.earp@dti.gsi.gov.uk
phone: +44 (0) 20 7215 5271
fax: +44 (0) 20 7215 5228

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Back | Title | Table of Contents
Appendix 1 | Appendix 2 | Appendix 3 | Appendix 4 | Appendix 5 | Appendix 6 | Appendix 7 | Appendix 8 | Appendix 9
Appendix 10 | Appendix 11 | Appendix 12 | Appendix 13 | Appendix 14 | Appendix 15 | Appendix 16 | Appendix 17
Index Map | Plate 1 | Plate 2W | Plate 2E | Plate 3W | Plate 3E | Plate 4W | Plate 4E | Plate 5 | Plate 6
Plate 7 | Plate 8W | Plate 8E | Plate 9W | Plate 9E | Plate 10W | Plate 10E | Plate 11 | Plate 12 | Legend