SCHEDULE 27
MEANING OF “OFFSHORE INSTALLATION”
PART 1 Schedule 27
The New Definition
In Part 19 of the Taxes Act 1998 (supplemental provisions), after section 837B insert-
“837C Meaning of “offshore installation”
For the purposes of the Tax Acts, unless the context otherwise requires, “offshore installation” means a structure which is, is to be, or has been, put to a use specified in subsection (2) while-
Standing in any waters,
Stationed (by whatever means) in any waters, or
Standing on the foreshore or other land intermittently covered with water.
The uses are:
Use for the purposes of exploiting mineral resources by means of a well;
Use for the purposes of exploration with a view to exploiting mineral resources by means of a well;
Use for the storage of gas in or under the shore or the bed of any waters;
Use for the recovery of gas so stored;
Use for the conveyance of things by means of a pipe;
Use mainly for the provision of accommodation for persons who work on or from a structure which is, is to be, or has been, put to a use specified in any of paragraphs (a) to (e) while-
Standing in any waters,
Stationed (by whatever means) in any waters, or
Standing on the foreshore or other land intermittently covered with water.
But a structure is not an offshore installation if:
It has ceased permanently to be put to a use specified in subsection (2),
It is not, and is not to be, put to any other use specified subsection (2), and
Since ceasing permanently to be put to a use specified in subsection (2) it has been put to a use which is not so specified.
In this section “structure” includes a ship or other vessel.
The Treasury may make provision by regulations as to the meaning of “offshore installation” for the purposes of the Tax Acts.
The regulations may:
Add to, amend or repeal subsections (1) to (4) or any provision of those subsections;
Make different provision for different purposes;
Include incidental, consequential, supplemental, saving or transitional provisions.”
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