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United Kingdom · Question · Written question

UIN 3891

Offshore Industry: Taxation

Original

answeredUnited Kingdom· UK Parliament· EN

Introduced

27 November 2023

Last action

5 December 2023 · Answer

Status

Answered

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Subjects

Taxation

Source updated

5 December 2023

Taxation

Summary

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of windfall taxes on the level of investment in offshore energy production.

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Timeline

  1. 27 November 2023

    Written question

    To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of windfall taxes on the level of investment in offshore energy production.

    Source: Commons

  2. 5 December 2023

    Answer

    The Energy Profits Levy (EPL) was introduced on 26 May 2022 to respond to exceptionally high prices that meant oil and gas companies were benefiting from unexpectedly high profits. While the EPL is in place, companies can claim around 91p in tax relief fo...

    Source: Written answer

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