# Petroleum Revenue Tax Act 1980, Paragraph 3


The amount of any assessable profit resulting from the computation under paragraph 2 above may be reduced by any allowable loss in accordance with section 7(1) and shall be reduced in accordance with section 8 by reference to the participator’s share, if any, of the oil allowance for the chargeable period.

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Source: https://www.legislation.gov.uk/ukpga/1980/1/schedule/paragraph/3 (the official version)
Page: https://openlegislation.uk/petroleum-revenue-tax-act-1980/schedule/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.