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Carbon Capture, Usage and Storage: Finance

Asked by Clive LewisLabourTreasuryTabled Answered 21 October 2024UIN 8661

The question

To ask the Chancellor of the Exchequer, pursuant to the Answer of 10 October 2024 to Question 7485 on Carbon Capture, Usage and Storage: Taxation, if she will hold discussion with carbon capture, usage and storage organisations in receipt of Government funding on (a) the location of their headquarters and (b) their tax status.

Answered by James Murray

All the current applicants for government support in Track 1 of the Carbon Capture, Usage and Storage programme are registered in England and Wales. Companies pay Corporation Tax in the UK on their profits derived from economic activities they undertake through a place of business here.

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