Offshore Fixed Structures: Decommissioning

Treasury written question – answered on 13th October 2020.

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Photo of Matthew Offord Matthew Offord Conservative, Hendon

To ask the Chancellor of the Exchequer, what rate of tax relief a company would receive against the cost of decommissioning redundant oil platforms in UK Territorial Waters.

Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary

The rate of tax relief for the decommissioning of redundant oil platforms will depend on the particular circumstances of the company in question. If the company is within the UK’s oil & gas tax regime the rate of relief will be commensurate with the rates of tax charged.

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