Sentence examples for field allowance from inspiring English sources

Alexander added that he was willing to consider extensions to the field allowance regime to provide tax breaks for particular fields if they have problems such as deep wells or heavy oil.

As a result, tax breaks since the 2012 budget were worth £864m to the industry and were likely to rise further as a result of the field allowance to Dana Petroleum for its $1.6bn oil and gas development east of Shetland, announced in late 2012.

"Major package of tax changes"to boost oil and gas extraction in North Sea,along with £3bn new field allowance west of Shetland.

In March 2012, the Chancellor announced an increase in the small field allowance, and introduced a new allowance for large deep-water developments targeting West of Shetland.

"We are also introducing new allowances including a £3bn new field allowance for large and deep fields to open up West of Shetland, the last area of the basin left to be developed.

The brown field allowance will shield up to £250m of income in qualifying brown field projects, or £500m for projects in fields paying Petroleum Revenue Tax, from the 32% supplementary charge rate.

It said Osborne had hugely expanded field allowances, introduced by Alistair Darling in 2009 to encourage production from "small or technically challenging new fields".

David Powell, FoE's economics campaigner, said in the current financial year new field allowances had been created and an existing one expanded.

The use of field allowances to encourage investment in the North Sea has demonstrated the effectiveness of a targeted tax regime in stimulating investment and production that would not otherwise have gone ahead.

With an energy crunch looming, it was perhaps unsurprising to find Osborne encouraging new generating capacity: in particular, field allowances for shale gas developments will reduce the effects of the Supplementary Charge, the supertax on oil and gas companies.

Field allowances generally are not paid.