OT13020 - PRT: Cross Field Allowances - Outline
The cross field allowance (CFA) rules in FA87\S65 and FA87\SCH14 were introduced in 1987 to give oil companies a financial incentive to develop smaller second generation fields by allowing a measure of relief for expenditure incurred in such developments (바카라 사이트˜a relevant new field바카라 사이트™ or 바카라 사이트˜field of origin바카라 사이트™) against income from larger, more mature fields (바카라 사이트˜receiving field바카라 사이트™). The relief is one of the exceptions to the general principle that PRT is a field-based tax - see OT16250, Unrelievable Field Losses, for the other exception.
The detail of how the relief works is covered in OT13040
Procedural rules are covered in OT13060
Relevant new field, FA87\SCH14\PARAS8-9
바카라 사이트˜A relevant new field바카라 사이트™, i.e. a field that is eligible to be a CFA donor is broadly a seaward, non- Southern Gas Basin field of which no part was given development consent either before 17 March 1987 or after 15 March 1993.