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United Kingdom · Question · Written question

UIN 93498

Energy: Taxation

answeredUnited Kingdom· UK Parliament· EN

Introduced

22 November 2022

Last action

30 November 2022 · Answer

Status

Answered

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Subjects

Energy, Taxation

Source updated

30 November 2022

Energy · Taxation

Summary

To ask the Chancellor of the Exchequer, what assessment he has made of the likelihood of North Sea Oil and Gas companies front-loading investment in new oil and gas extraction over the next three years in order to benefit from additional tax relief under

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Timeline

  1. 22 November 2022

    Written question

    To ask the Chancellor of the Exchequer, what assessment he has made of the likelihood of North Sea Oil and Gas companies front-loading investment in new oil and gas extraction over the next three years in order to benefit from additional tax relief under

    Source: Commons

  2. 30 November 2022

    Answer

    The Energy Profits Levy (EPL) was introduced in May in response to sharp increases in oil and gas prices over the past year. At the Autumn Statement 2022, the Chancellor announced that the rate of the levy would rise by ten percentage points to 35%, effec...

    Source: Written answer

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