Part 24Corporation Tax Acts definitions etc

Chapter 1Definitions

1132“Offshore installation”

1

In the Corporation Tax Acts “offshore installation” means a structure which is, is to be, or has been, put to a relevant use while in water (see subsections (3) and (4)).

2

But a structure is not an offshore installation if—

a

it has permanently ceased to be put to a relevant use,

b

it is not, and is not to be, put to any other relevant use, and

c

since permanently ceasing to be put to a relevant use, it has been put to a use which is not relevant.

3

A use is a relevant use if it is—

a

for the purposes of exploiting mineral resources by means of a well,

b

for the purposes of exploration with a view to exploiting mineral resources by means of a well,

c

for the storage of gas in or under the shore or the bed of any waters,

d

for the recovery of gas so stored,

e

for the conveyance of things by means of a pipe, or

f

mainly for the provision of accommodation for individuals who work on or from a structure which is, is to be, or has been, put to any of the above uses while in water.

4

For the purposes of this section references to a structure being put to a use while in water are to the structure being put to a use while—

a

standing in any waters,

b

stationed (by whatever means) in any waters, or

c

standing on the foreshore or other land intermittently covered with water.

5

In this section “structure” includes a ship or other vessel.