Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Gas Levy Act 1981

Consolidated Text As Enacted Cited authorities 13 Cited in Amendments 32 Related
Vincent
JurisdictionUK Non-devolved
Citation1981 c. 3
Year1981
(1) For the year 1980-81 and each subsequent year a levy, to be known as gas levy, shall be payable out of F2his revenues by any person in respect of gas to which this section applies and which is supplied to or won by F3that person in that year.to gas purchased by F4any person under a tax-exempt contract; andwon or purchased by F4any person; andderived from a tax-exempt reservoir under the authority of a petroleum production licence which is or was held by a person who F5had agreed to supply gas from that reservoir to F6the British Gas Corporation (in this section referred to as “the Corporation ”) under a tax-exempt contract or under the authority of a petroleum production licence substituted for such a licence.(3) In this section—
  • “petroleum production licence ” means a licence granted under section 2 of the Petroleum (Production) Act 1934, including a licence granted under that section as applied by section 1(3) of the Continental Shelf Act 1964;
  • “tax-exempt contract ” means a contract made before the end of June 1975 for the sale to the Corporation of gas won under the authority of a petroleum production licence; and
  • “tax-exempt reservoir ” means a natural reservoir, gas derived from which the Corporation was on 1st April 1980 obliged to purchase (whether immediately or at some future date) under terms comprised in a document which on 1st April 1980 was treated for the purposes of paragraph (a) of section 10(1) of the Oil Taxation Act 1975 as containing the whole or part of a contract for the sale of excluded oil as defined in that subsection.
for the year 1980-81, one penny per therm;for the year 1981-82, three pence per therm; andfor the year 1982-83, five pence per therm.(2) The Secretary of State may by order, made with the consent of the Treasury, specify rates of levy for the years mentioned in subsection (1) above different from those specified in that subsection.(3) Subject to subsection (4) below, the rate of levy for any year subsequent to the year 1982-83 shall be specified by order made by the Secretary of State with the consent of the Treasury.(4) If no rate is specified for any such year, the rate of levy for that year shall be the same as the rate for the preceding year.(4A) The rate of levy may be specified by reference to either therms or gigajoules, provided that the rate for any year subsequent to the year 1998—1999 shall be specified in gigajoules.(5) The powers to make orders conferred by this section shall be exercisable by statutory instrument.(6) No such order shall be made unless a draft of the order has been laid before and approved by a resolution of the House of Commons.(1) Gas levy shall be paid to the Secretary of State in respect of each period of three months ending on 30th June, 30th September, 31st December or 31st March in any year (in this section referred to as a “chargeable period ”) .within four weeks after the end of each chargeable period, a return for that period which complies with subsection (3) below; andwithin three months after the end of each year, a return for that year which so complies.(3) A return under subsection (2) above for any chargeable period or any year shall show the quantity, expressed both by volume and as a number of therms, of gas to which section 1 above applies which was supplied to or won by the person concerned in that period or that year.(4) Not later than six weeks after the end of any chargeable period a person who is liable to pay gas levy in respect of that period shall pay to the Secretary of State an amount equal to the amount of gas levy which would be due from him for that period if the amount due were calculated exclusively by reference to the return for that period.where the former amount is greater, be repaid by the Secretary of State to that person; andwhere the latter amount is greater, be paid by that person to the Secretary of State.(6) Where any amount falling to be paid under subsection (4) or (5) above is not paid within the period for payment specified in that subsection, that amount shall carry interest at the prescribed rate from the end of that period until payment; and in this subsection “paid ”and “payment ”include repaid and repayment, respectively.(7) In this section “the prescribed rate ”means the rate prescribed for the purposes of section 86 of the Taxes Management Act 1970.(1) Where a natural reservoir from which there derives gas to which section 1 above applies is used for the storage of gas produced elsewhere which is acquired by F9any person, gas levy F10shall be payable by that person for any year only on the amount by which the number of therms represented by the gas supplied to F11that person from that reservoir during the year exceeds the number of therms represented by the gas put into the reservoir during the year.(2) If in any year the number of therms represented by the gas put into such a reservoir has exceeded the number of therms represented by the gas supplied to F12the person concerned

To continue reading

Request your trial
Navigation index

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT