OT15010 - PRT: Tariff and Disposal Receipts

Outline

The amounts chargeable to PRT include tariff receipts (see OT15025) and disposal receipts (see OT15060) as defined in OTA83/S6 and OTA83/S7 respectively. PRT is not chargeable on tax-exempt tariffing receipts (OT15800)

A participator is required by OTA83/S10 to include full details of its share of any tariff or disposal receipts of the field in its return for that field for the period. These details include

• the amount or value of the receipts of the participator that are attributable to the field for the chargeable period
• the source of the tariff or disposal receipts
• and the assets to which the tariff or disposal receipts refer.