The Energy Profits Levy, administered by HM Revenue & Customs, is a temporary tax on extraordinary profits from oil and gas companies, designed to fund energy security investments and support households with energy costs. The levy remains active with ongoing reforms and sector-specific discussions, particularly regarding impacts on North Sea operators and Scottish energy production.
This tax information and impact note is about payments under a Decommissioning Relief Deed in relation to the Energy Profits Levy.
In response to: Energy Profits Levy reforms 2024
These measures are about reforms to the Energy Profits Levy following announcements made at the July Statement 2024.
In response to: Energy Profits Levy: Energy Security Investment Mechanism legislation
This tax information and impact note is about amending the Energy Profits Levy to make sure it permanently ends if prices return to historically normal levels.
In response to: Technical note: Energy Profits Levy Energy Security Investment Mechanism
This document sets out the technical detail and practical application of the Energy Security Investment Mechanism (ESIM).
In response to: The decarbonisation allowance in the Energy Profits Levy
This tax information and impact note is about the introduction of an 80% investment allowance in the Energy Profits Levy for qualifying expenditure on decarbonising upstream oil and gas production.
In response to: Changes to the Energy (Oil and Gas) Profits Levy
This tax information and impact note is about the changes to the Energy (Oil and Gas) Profits Levy announced at Autumn Statement 2022.
In response to: The Energy (Oil and Gas) Profits Levy Bill
This tax information and impact note is about the introduction of the Energy (Oil and Gas) Profits Levy Bill.
This tax information and impact note deals with changes to the taxation of tariff income for petroleum licence holders in the UK and on the UK Continental Shelf announced at Autumn Budget 2017.
This tax information and impact note deals with changes to the taxation of tariff income for petroleum licence holders in the UK and on the UK Continental Shelf announced at Autumn Budget 2017.