Part 8 Oil activities

Chapter 1 Introduction

270 Overview of Part
(1) This Part is about the corporation tax treatment of oil activities.
(2) Chapter 2 contains basic definitions used in this Part.
(3) Chapter 3 treats oil-related activities as a separate trade.
(4) Chapter 4 makes provision about the calculation of profits from oil activities.
(5) Chapter 5 makes provision about ring fence expenditure supplement.
(6) Chapter 6 makes provision about the supplementary charge in respect of ring fence trades.
(7) Chapter 7 makes provision about the reduction of the supplementary charge for certain new oil fields.
(8) For the meaning of—
(a) “oil-related activities”, see section 274,
(b) “ring fence trade”, see section 277, and
(c) “new oil field”, see section 350.