OT15870 - PRT: Tax-Exempt Tariffing Receipts

Excepted Assets - Assets wholly situated in an existing field OTA83/S6B(3)(a)

A qualifying asset ( OT15100) is an excepted asset for the purpose of the qualifying existing field ( OT15860) condition in OTA83/S6B(1) if at the time of use the asset was wholly situated in the existing field and the asset was not a tanker.

This provision ensures that an existing taxable field is not prevented from being a qualifying existing field solely by the use of qualifying assets that are “field” assets situated within the field boundary of that field.

For tankers and tanker loading fields see ( OT15880).