TTM03645 - Qualifying companies and ships: Offshore installations
Definition
An ‘offshore installation� is defined in CTA10/S1132 as:
- a structure which is, or is to be, or has been, put to a relevant useÌýwhile in water, and
- relevant use includes exploiting mineral resources by means of a well, related exploration, storage of gas in or under the shore or bed of any waters, recovery of such gas, pipelines and accommodation for workers offshore.
This definition will include such structures as mobile offshore drilling rigs, Floating Production, Storage and Offloading vessels (FPSO’s) and flotels.Ìý In detail:
Section 1132 Corporation Tax Act 2010
1132 “Offshore installation�
(1)ÌýÌýÌýÌý In the Corporation Tax Acts “offshore installationâ€� means a structure which is,Ìýis to be, or has been, put to a relevant use while in waterÌý(see subsections (3) and (4)).
(2)ÌýÌýÌýÌý But a structure is not an offshore installation ifâ€�
ÌýÌýÌýÌý (a)ÌýÌýÌýÌý it has permanently ceased to be put to a relevant use,
ÌýÌýÌýÌý (b)ÌýÌýÌýÌý it is not, and is not to be, put to any other relevant use, andÌýÌý
ÌýÌýÌýÌý (c)ÌýÌýÌýÌý since permanently ceasing to be put to a relevant use, it has been put to a use which is not relevant.
(3)ÌýÌýÌýÌý A use is a relevant use if it isâ€�
ÌýÌýÌýÌý (a)ÌýÌýÌýÌý for the purposes of exploiting mineral resources by means of a well,ÌýÌý
ÌýÌýÌýÌý (b)ÌýÌýÌý for the purposes of exploration with a view to exploiting mineralÌýresources by means of a well,
ÌýÌýÌýÌý (c)ÌýÌýÌýÌý for the storage of gas in or under the shore or the bed of any waters,
ÌýÌýÌýÌý (d)ÌýÌýÌýÌý for the recovery of gas so stored,
ÌýÌýÌýÌý (e)ÌýÌýÌýÌý for the conveyance of things by means of a pipe, or
ÌýÌýÌýÌý (f)ÌýÌýÌýÌýÌýmainly for the provision of accommodation for individuals who work onÌýor from a structure which is, is to be, or has been, put to anyÌýof theÌýabove uses while in water.
(4)ÌýÌýÌýÌý For the purposes of this section references to a structure being put to a useÌýwhile in water are to the structure being put to a use whileâ€�
ÌýÌýÌýÌý (a)ÌýÌýÌýÌý standing in any waters,
ÌýÌýÌýÌý (b)ÌýÌýÌýÌý stationed (by whatever means) in any waters, or
ÌýÌýÌýÌý (c)ÌýÌýÌýÌý standing on the foreshore or other land intermittently covered withÌýwater.
ÌýÌýÌýÌý (5)ÌýÌýÌýÌý In this section “structureâ€� includes a ship or other vessel.
References
FA00/SCH22/PARA20 (1)(d)Ìý(offshore installation) |
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Excluded vessels |
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Need to consider end-user of chartered ship |
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