29 April 2024
UK pledges tax support to struggling North Sea sector
Publication date: 10 March 2017
Gas Strategies Group
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The UK government has bowed to demands to explore possible tax incentives to help the struggling North Sea oil and gas industry.
Chancellor Philip Hammond said in the spring budget the government would set up an expert panel to look at how the tax system can assist sales of oil and gas fields, and publish a discussion paper on how best to support the industry.