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Offshore Industry: Corporation Tax

Asked by Grahame MorrisLabourDepartment for Energy Security and Net ZeroTabled Answered 23 January 2025UIN 24833

The question

To ask the Secretary of State for Energy Security and Net Zero, with reference to the document entitled UKCS Decommissioning Cost and Performance Update 2024, published on 16 June 2024, whether the estimates of the annual cost of decommissioning offshore

Answered by Michael Shanks

The decommissioning cost estimates referred to, which are published by the North Sea Transition Authority, are pre-tax. Any annual relief on corporation tax granted for decommissioning expenditure in the oil and gas sector has not been applied.

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