Taxes and Royalties Attributable to UK Oil and Gas Production and Gas Levy

  million

  Offshore  Licensing Round Licence Fees (1) Royalty SPD (2) PRT (3)

Corporation Tax (CT)

 

 

 

CT before ACT Set-off (4)

of which: ACT Set-off (5)

Mainstream CT (6) Ring Fence Charge (7) Total Revenues Gas Levy (8)
1964/65

1st

2

             

2

 
1965/66

2nd

1

             

1

 
1966/67

 

               

0

 
1967/68

 

0

0

           

0

 
1968/69

 

0

1

           

1

 
1969/70

 

0

2

           

2

 
1970/71

3rd

1

3

   

2

 

2

 

6

 
1971/72

4th (1)

39

6

   

4

 

4

 

49

 
1972/73

 

4

11

   

4

 

4

 

19

 
1973/74

 

3

12

   

3

 

3

 

18

 
1974/75

 

4

15

   

5

 

5

 

24

 
1975/76

 

2

20

   

5

 

5

 

27

 
1976/77

5th

5

71

   

10

 

10

 

86

 
1977/78

 

7

228

   

10

 

10

 

245

 
1978/79

6th

9

289

 

183

93

40

53

 

574

 
1979/80

 

10

628

 

1,435

250

78

172

 

2,323

 
1980/81

7th

220

992

 

2,410

341

97

244

 

3,963

 
1981/82

 

14

1,396

2,025

2,390

681

270

411

 

6,506

383

1982/83

8th(1)

46

1,632

2,395

3,274

521

202

319

 

7,868

471

1983/84

 

19

1,904

 

6,017

877

430

447

 

8,817

522

1984/85

9th(1)

136

2,426

 

7,177

2,432

1,244

1,188

 

12,171

500

1985/86

 

23

2,057

 

6,375

2,916

1,085

1,831

 

11,371

525

1986/87

10th

21

919

 

1,188

2,676

1,130

1,546

 

4,804

515

1987/88

 

27

1,024

 

2,296

1,298

681

617

 

4,645

496

1988/89

11th

25

602

 

1,371

1,195

685

510

 

3,193

407

1989/90

 

33

575

 

1,050

743

495

248

 

2,401

335

1990/91

12th, 13th

31

605

 

860

847

363

484

 

2,343

291

1991/92

 

37

557

 

-216

638

370

268

 

1,016

282

1992/93

14th

34

554

 

69

682

480

202

 

1,339

287

1993/94

 

43

606

 

359

258

219

39

 

1,266

239

1994/95

15th, 16th

41

550

 

712

380

299

81

 

1,683

173

1995/96

 

49

555

 

968

766

674

92

 

2,338

174

1996/97

17th

48

684

 

1,729

890

460

430

 

3,351

196

1997/98

18th

54

535

 

963

1,779

821

958

 

3,331

183

1998/99

 

62

343

 

504

1,605

656

949

 

2,514

19

1999/2000

 

53

389

 

853

1,268

120

1,148

 

2,563

 
2000/01

19th

55

552

 

1,521

2,329

 

2,329

 

4,457

 
2001/02

 

59

548

 

1,307

3,347

 

3,347

 

5,261

 
2002/03 (9)

20th

63

434

 

958

3,263

 

3,263

250

4,968

 
2003/04 (9)

21st

58

-13

 

1,179

2,386

 

2,386

740

4,350

 
2004/05 (9)

22nd

57

   

1,010

1,910

 

1,910

670

3,647

 

Total

 

1,395

21,712

4,420

47,942

36,414

10,899

25,515

1,660

113,543

5,998

Notes:

(1) Licence fees include receipts from fees for onshore and offshore petroleum exploration and production licenses, including initial and periodic payments and tender receipts from offshore licensing of 37 million from the 4th round in 1971/72, 33 million the 8th round in 1982/83 and 121 million from the 9th round in 1984/85.
(2) Supplementary Petroleum Duty (SPD) was introduced with effect from 1 January 1981 by the 1981 Finance Act and lapsed after 31 December 1982; it was payable at the rate of 20% on the gross value of oil and gas produced under UK licences less an allowance per field of 1 million tonnes per year; it did not apply to PRT-exempt sales of gas to the British Gas Corporation.
(3) Advance Petroleum Tax (APRT) is included with PRT. The net PRT repayment in 1991/92 and low net receipts in 1992/93 resulted from high tax-relievable expenditure claimed on some fields.
(4) The level of Corporation Tax receipts in 1993/94 reflected low liabilities in 1992 (paid in the following financial year) and repayment resulting from lower settlements for earlier years.
(5) The ACT (Advance Corporation Tax) Set-off is estimated because the dividends attributable to UK oil and gas cannot be separately identified from other dividends.
(6) Mainstream Corporation Tax (CT) equals CT before the ACT Set-off less the estimated ACT Set-off.
(7) Supplementary charge in respect of ring fence trades introduced from 17 April 2002.
(8) The gas levy was introduced in 1981 to capture the rent accruing to the nationalised British Gas Corporation from purchasing PRT-exempt gas under long term contracts signed before the general rise in gas prices. It was abolished with effect from 1 April 1998. The yield from gas levy is not included in total Government revenues because it is categorised as a tax on expenditure rather than on income from oil and gas production.
(9) Provisional estimates; the forecasts for 2004/05 are consistent with the March 2004 Financial Statement and Budget Report.

This data was last updated on : June 2004 and is due to be updated on : June 2005

If any errors are found or if you have any comments or other queries please contact:

Mike Earp
email: mike.earp@dti.gsi.gov.uk
phone: +44 (0) 20 7215 5271
fax: +44 (0) 20 7215 5228

To download this table click the appropriate format: Excel 4 or CSV file.


Back | Title | Table of Contents
Appendix 1 | Appendix 2 | Appendix 3 | Appendix 4 | Appendix 5 | Appendix 6 | Appendix 7 | Appendix 8 | Appendix 9
Appendix 10 | Appendix 11 | Appendix 12 | Appendix 13 | Appendix 14 | Appendix 15 | Appendix 16 | Appendix 17
Index Map | Plate 1 | Plate 2W | Plate 2E | Plate 3W | Plate 3E | Plate 4W | Plate 4E | Plate 5 | Plate 6
Plate 7 | Plate 8W | Plate 8E | Plate 9W | Plate 9E | Plate 10W | Plate 10E | Plate 11 | Plate 12 | Legend