5(1)Where it appears to the Board that any APRT payable in accordance with paragraph 1 above has not been paid on the due date they may make an assessment to tax on the participator and shall give him notice of any such assessment.U.K.
(2)APRT due under an assessment under this paragraph shall be due within thirty days of the issue of the notice of assessment.
(3)A notice of assessment shall state that the participator may appeal against the assessment in accordance with paragraph 7 below.
(4)After the service of a notice of assessment the assessment shall not be altered except in accordance with the express provisions of this Part of this Schedule or any of the provisions of the M1Taxes Management Act 1970 which apply by virtue of paragraph 1 of Schedule 2 to the principal Act in relation to the assessment.
6(1)Where it appears to the Board that any gross profit charged to tax on a participator for any chargeable period in respect of an oil field by an assessment under paragraph 5 above ought to have been larger or smaller or that no gross profit accrued to the participator from that oil field during that chargeable period, they may make such amendments to the assessment or withdraw the assessment, as the case may require.U.K.
(2)Where the Board amend an assessment under sub-paragraph (1) above they shall give notice to the participator of the amendment ; and sub-paragraphs (2) to (4) of paragraph 5 above shall apply in relation to a notice of assessment under paragraph 5.
7(1)A participator may appeal F1... against an assessment or amendment of an assessment under paragraph 5 or paragraph 6 above by notice of appeal in writing to the Board given within thirty days of the date of issue of the notice of the assessment or amendment of assessment.U.K.
(2)Sub-paragraphs (2) to (11) of paragraph 14 of [F2and paragraphs 14A to 14I of] Schedule 2 to the principal Act shall apply in relation to an appeal under this paragraph as they apply in relation to an appeal under sub-paragraph (1) of that paragraph except that—
(a)for each reference in [F3paragraph 14(3)] to tax there shall be substituted a reference to APRT;
(b)where in determining the gross profit accruing to a participator from a field in a chargeable period the aggregate of the amounts mentioned in paragraphs (a) to (c) of subsection (5) of section 2 of the principal Act falls to be increased under section 140 of this Act (whether as respects all oil or as respects a prticular kind or kinds of oil), the difference mentioned in [F4paragraph 14(3)(b)] (or as the case may be, the difference so far as relating to oil of the particular kind or kinds in question) shall be increased by multiplying it by the fraction mentioned in subsection (2) of section 140;
(c)for each reference in [F5paragraph 14(10)] to an assessable profit there shall be substituted a reference to a gross profit; F6...
(d)any reference in [F7paragraph 14(10)] to an allowable loss shall be omitted[F8; and
(e)in the case of paragraphs 14A to 14I of Schedule 2, with such modifications as may be necessary]
Textual Amendments
F1Words in Sch. 19 para. 7(1) omitted (1.4.2009) by virtue of The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(2)
F2Words in Sch. 19 para. 7(2) inserted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(3)(a)
F3Words in Sch. 19 para. 7(2)(a) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(3)(b)
F4Words in Sch. 19 para. 7(2)(b) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(3)(c)
F5Words in Sch. 19 para. 7(2)(c) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(3)(e)
F6Word in Sch. 19 para. 7(2)(c) omitted (1.4.2009) by virtue of The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(3)(d)
F7Words in Sch. 19 para. 7(2)(d) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(3)(e)
F8Sch. 19 para. 7(2)(e) and word inserted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 102(3)(f)
8U.K.Paragraphs 5(2) to (4) and 7 above shall apply in relation to an assessment to APRT under section 142(1) of this Act as if it were an assessment under paragraph 5.