All posts with the topic: oil and gas

The Chancellor has today announced that hoped-for changes will be made to the decommissioning tax relief regime, taking effect from 1 November 2018. The proposed changes will be a world first for a tax regime, and are intended to encourage investment in late-life assets in the North Sea. A review on the topic had been … Continue reading Oil and Gas in Budget 2017: Transferable Tax History

Yesterday’s Budget brought potentially welcome news for those involved in the North Sea’s burgeoning decommissioning industry. A review of decommissioning tax relief was announced, which may remove an effective barrier to smaller specialists taking on late-life fields. Further details will be published in a discussion paper “on the case for allowing transfers of tax history … Continue reading Budget 2017: Oil and Gas decommissioning tax relief