Offshore Industry: Taxation

Summary

To ask the Chancellor of the Exchequer, with reference to the Energy Profits Levy, Technical Note, published on 26 May 2022, if he will place in the Library the figures for the total estimated amount the Energy Profits Levy will be reduced in (a) 2022-23

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Timeline

1. 26 May 2022

   Written question

   To ask the Chancellor of the Exchequer, with reference to the Energy Profits Levy, Technical Note, published on 26 May 2022, if he will place in the Library the figures for the total estimated amount the Energy Profits Levy will be reduced in (a) 2022-23

   Source: Commons

2. 6 June 2022

   Answer

   As set out in “Energy Profits Levy Factsheet - 26 May 2022”, the new Energy Profits Levy will raise around £5 billion over the next year. As part of the levy a new tax relief is being introduced to encourage firms to invest in the UK. The new 80% Investme...

   Source: Written answer

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• · Treasury · Answering body

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