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BCLP

Further Changes to the Energy (Oil and Gas) Profits Levy Announced

BCLP on

The UK government has announced further changes to the Energy (Oil and Gas) Profits Levy, increasing the rate to 38%, extending the period to which it applies to 31 March 2030 and removing the “unjustifiably generous” main...more

BCLP

Spring Budget 2024 - Will We See Material Reform?

BCLP on

Budgets are normally stories of two halves. The first half contains the headline-grabbing tax policy reforms that can be encapsulated in a snappy soundbite in the Budget speech, such as “Chancellor scraps the non-dom regime”....more

A&O Shearman

UK Introduces Energy Profits Levy on 'Extraordinary Profits' of Oil and Gas Companies

A&O Shearman on

The U.K. Government announced on May 26, 2022 its intention to introduce with immediate effect a temporary Energy Profits Levy (the “Levy”), an additional U.K. Corporation Tax charge at a rate of 25% on the profits of oil and...more

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