Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Folder An icon of a paper folder. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. Linked In An icon of the Linked In logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo.

tax

Oil & Gas

Exxon CEO apologises for lobbyist’s comments in leaked video

ExxonMobil’s chief executive Darren Woods says the company is “deeply apologetic” over comments caught on camera in a secret filming by Greenpeace that show one of the oil giant’s lobbyists saying a carbon tax the company has promoted for years is unlikely to happen.

Opinion

Are there any tax levers left to pull for the UK oil and gas industry?

Proposals to introduce temporary amendments to the Norwegian upstream tax regime, put to the Norwegian parliament a couple of weeks ago, and included within the Norwegian budget on Tuesday, have added to calls for fiscal change in the UK to support investment in the UKCS and underpin the oilfield services (OFS) supply chain.

Promoted

Know your tax liability

Norway and Denmark continued to be attractive work locations for UK companies in 2019. Many of those companies are specialists in the traditional sectors of oil and gas but there has been an upsurge in other sectors such as renewables, aquaculture and agriculture.

Opinion

Tackling taxation issues

With the festive season over, the start of a new year gives employers an ideal opportunity for a spring clean of their compliance processes and to identify any tax planning opportunities.

Decom

Busting the decommissioning tax myths

Decommissioning remains a big consideration for any investor in the UKCS and, indeed, anyone divesting their interests. This is especially the case where the interests in licences which are changing hands are mature assets with a significant number of wells and attendant infrastructure.

Opinion

Relief from R&D costs

The development of innovative technology solutions has never been more crucial to the oil and gas industry than it is right now.

Promoted

IR35: An ‘attack’ on self-employment

In 1999, the Revenue decided to change the contracting landscape with the introduction of IR35, an anti-avoidance tax legislation. The legislation originally imposed a series of tests to verify whether the worker could be classified as self-employed or not. Qualifying questions included “could they replace themselves if they were unable to go to work”, and “how many companies do they contract with each year” in order to establish their true status.

Opinion

Energy industry must get ready for IR35 reforms

In April 2020 the Government’s IR35 payroll reforms will come into effect in the private sector, putting the responsibility firmly on larger employers for PAYE and NICs in respect of contractors engaged via an intermediary.