Policy paper

Oil and gas taxation: reduction in Petroleum Revenue Tax and supplementary charge

This tax information and impact note applies to oil and gas companies that operate in the UK or on the UK Continental Shelf.

• From: HM Revenue & Customs
• Published: 16 March 2016

Documents

Oil and gas taxation: reduction in Petroleum Revenue Tax and supplementary charge

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Details

This package of measures will permanently zero rate Petroleum Revenue Tax, a reduction from 35%, and further reduces the rate of supplementary charge payable in respect of adjusted ring fence profits from 20% to 10%.

Published 16 March 2016