{
  "url": "https://openlegislation.uk/petroleum-revenue-tax-act-1980/schedule/paragraph-4",
  "json_url": "https://openlegislation.uk/petroleum-revenue-tax-act-1980/schedule/paragraph-4.json",
  "legislation": "ukpga/1980/1",
  "legislation_title": "Petroleum Revenue Tax Act 1980",
  "legislation_url": "https://openlegislation.uk/petroleum-revenue-tax-act-1980",
  "path": "schedule/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "(1) The tax payable shall be arrived at by—\n(a) calculating the tax on the amount of assessable profit resulting from the computation under paragraph 2 above as reduced under paragraph 3 above; and\n(b) applying the limit imposed by section 9.\n(2) In applying section 9 under this paragraph —\n(a) the assessable profit or allowable loss referred to in subsection (2)(a)(i) of that section shall be computed as provided in paragraph 2 above; and\n(b) the expenditure to be excluded under subsection (2)(a)(ii) and (3) of that section from the expenditure taken into account in computing the assessable profit or allowable loss for that period shall not include any expenditure treated under paragraph 2(4)(b) above as having been allowed as qualifying for supplement.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words repealed by Finance Act 1981 (c. 35), s. 139, Sch. 19 Part X."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1980/1/schedule/paragraph/4",
    "retrieved_at": "2026-10-29T10:16:56.426214+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}