New tax rules aim to end ‘big debate’ on UK decommissioning

New changes for decommissioning tax rules will help end “areas of dispute” between the industry and UK government, according to a leading expert.

Accompanying the Chancellor’s Budget last week, the Treasury unveiled changes to corporation tax for decommissioning.

The measures aim to end a “big debate” which has been taking place between industry, the Treasury and regulator OPRED over what can qualify as a decommissioning cost, and therefore subject to tax relief.