Derek Leith


HMRC launches new Profit Diversion Compliance Facility


On 10 January 2019, HMRC launched a new Profit Diversion Compliance Facility (PDCF) aimed at multinational enterprises who have used cross-border arrangements that HMRC considers may result in an artificial reduction in UK profits, including arrangements targeted by the Diverted Profits Tax (DPT) legislation.

Other News

Aberdeen due for £8.4bn investment by 2030


A global expert has claimed Aberdeen’s diversification and regeneration is “paying dividends” as it was announced £8.4 billion of public and private investment is due to be delivered to the north-east before 2030.


EY’s Derek Leith: North Sea decomm tax relief broken down


While the North Sea is far from being on its last legs, the collapse in the price of oil and the high cost of running ageing infrastructure does mean that production is becoming uneconomic in an increasing number of fields. This has brought decommissioning activity into sharp focus, for upstream producers as well as the supply chain. Similarly, the subject of decommissioning tax relief has attracted much press coverage in recent months.


EV Guest Editor: Derek Leith – This is not the oil and gas budget


The Budget on March 8, follows hot on the heels of the Autumn Statement on November 23. It is also the first of two Budgets we can expect this year as the UK transitions to an autumn rather than spring budget timetable. Usually it’s only election years during which two Budgets are delivered, but this year is an exception.


EY Guest Editor: Derek Leith on what to expect from the Autumn Statement


EY’s Derek Leith explains why it is unlikely we will see any further changes to the North Sea fiscal regime in the Autumn Statement 2016. However, the oil and gas industry will have huge interest in what the Chancellor has to say on the many other pressing issues affecting the wider economy.