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Petroleum Revenue Tax (PRT) is a direct tax collected in the United Kingdom.It was introduced under the Oil Taxation Act 1975, soon after Harold Wilson's Labour government returned to power and in the immediate aftermath of the 1973 energy crisis, and was intended to ensure "fairer share of profits for the nation" from the exploitation of the UK's continental shelf, while ensuring a "suitable ...
Where no allowances exist, code BR is used to tax at basic rate (20%), code D0 is used to tax at higher rate (40%) and code D1 is used to tax at the additional rate (45%). If no tax is to be collected, code NT is used. If tax has to be collected on an income above PAYE earnings, a K code is used. This works as equivalent to a negative tax ...
"Estimates of the amount of recoverable gas and the gas resources are variable. It is possible that the shale gas resources in UK are very large. However, despite the size of the resource, the proportion that can be recovered is the critical factor." [44] Industry estimates were that about 10% of gas in place could be extracted.
The two types of gas pipelines in the UK are: large diameter high-pressure (up to 85 [28] bar (1200 psi) and 1050 mm (41¼") [28] diameter) pipelines – the type that the NTS uses – and smaller diameter lower pressure pipelines that connect to users who burn gas for heat. The wall thickness of the high-pressure pipelines is up to 0.625 ...
A non-domiciled UK resident earning less than £2,000 in a year outside the UK does not pay tax on this unless it is transferred to the UK. This would apply to the typical person taking up a temporary job in the UK, being paid, and paying tax on it, in the UK, with possible additional small earnings in the home country.
the thread size; Threads are normally right-hand. For left-hand threads, the letters, LH, are appended. Example: Pipe thread EN 10226 Rp 2 + 1 ⁄ 2. The terminology for the use of G and R originated from Germany (G for gas, as it was originally designed for use on gas pipes; R for rohr, meaning pipe.)
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His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.