Consultation outcome

Tax issues for late-life oil and gas assets

• From: HM Treasury
• Published: 20 March 2017
• Last updated: 25 July 2018 — See all updates

This was published under the 2016 to 2019 May Conservative government

This consultation has concluded

Detail of outcome

This consultation has now concluded. Details of the outcome are available in the policy paper ‘An outline of transferable tax history’, and draft legislation has been produced in response to this consultation.

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Original consultation

Summary

A discussion paper on the tax treatment of late-life oil and gas assets, focussing on the tax issues that could affect their transfer.

This consultation ran from
1pm on 20 March 2017 to 11:45pm on 30 June 2017

Consultation description

At Spring Budget 2017, the government announced it would publish a discussion paper on the tax treatment of late-life oil and gas assets. This paper considers the tax issues on the transfer of such assets to new investors and whether any changes to the tax rules could facilitate these transfers and support the government’s aim of Maximising Economic Recovery.

Documents

Tax issues for late-life oil and gas assets: discussion paper

PDF, 326 KB, 29 pages

Expert panel terms of reference and outputs

HTML

Minutes of expert panel meetings

PDF, 2.23 MB, 47 pages

Published 20 March 2017
Last updated 25 July 2018 + show all updates

1. 25 July 2018

   Consultation outcome added

2. 24 November 2017

   Updated with expert panel minutes

3. 20 April 2017

   Updated 'Expert panel terms of reference' with a list of the members

4. 20 March 2017

   First published.