North Sea Oil: Tax Allowances

(asked on 17th October 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate his Department has made of the value of tax relief available for the development of the Rosebank oil field under the investment allowance; and if he will place a copy of that estimate in the Library of the House.


Answered by
Gareth Davies Portrait
Gareth Davies
Exchequer Secretary (HM Treasury)
This question was answered on 25th October 2023

Estimates of the cost of tax reliefs available to oil and gas companies under the Ring-Fence Corporation Tax (RFCT) and the Supplementary Charge (SC) are published at https://www.gov.uk/government/collections/tax-relief-statistics.

These estimates do not separate out specific projects or taxpayers to protect taxpayer confidentiality.

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