Question to the HM Treasury:

To ask His Majesty's Government how much revenue has been refunded to oil and gas operators in the UK sector of the North Sea through decommissioning tax reliefs under the (1) Petroleum Revenue Tax, (2) Ring Fence Corporation Tax, and (3) Supplementary Charge, in each of the past five years.

Estimates of the cost of decommissioning tax reliefs used by oil and gas companies under the Ring Fence Corporation Tax (RFCT) and Petroleum Revenue Tax (PRT) regimes, are published at tax relief statistics gov.uk [1] This indicates that tax relief for decommissioning expenditure under the Petroleum Revenue Tax regime amounted to £140m in 2019-20, £270m in 2020-21, £350m in 2021-22, £340m in 2022-23, £600m* in 2023-24 and £450m* in 2024-25. Tax relief for the same expenditure under the offshore Corporation Tax regime amounted to £590m in 2019-20, £450m in 2020-21, £560m in 2021-22, £790m in 2022-23, £940m* in 2023-24 and £1bn* in 2024-25. Figures indicated by an asterisk are based on forecasted data.

[ 1] https://www.gov.uk/government/collections/tax-relief-statistics