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Petroleum Revenue Tax: Tax Allowances

HM Treasury written question – answered on 27th February 2017.

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Photo of Rebecca Long-Bailey Rebecca Long-Bailey Shadow Secretary of State for Business, Energy and Industrial Strategy, Member, Labour Party National Executive Committee

To ask Mr Chancellor of the Exchequer, how many (a) people and (b) businesses have received Petroleum Revenue Tax relief for research expenditure in (i) 2013-14 and (ii) 2014-15.

Photo of Jane Ellison Jane Ellison The Financial Secretary to the Treasury

Only companies are able to claim Petroleum Revenue Tax relief for research expenditure. Fewer than ten companies claimed the relief in each of 2013-14 and 2014-15.

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