ÀÏ˾»úÎçÒ¹¸£Àû

Tax News

Changes to the Energy (Oil and Gas) Profits Levy

Published on: 30 July 2024
Published by a

Specialist Tax Regulatory Materials

Article summary

HM Treasury has announced changes to the Energy (Oil and Gas) Profits Levy (EPL) to tax the extraordinary profits of oil and gas companies operating in the UK and on the UK Continental Shelf.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Popular Articles

Definition of a close company

Definition of a close companyThe detailed definition of a close company is set out below, but in summary the rules are targeted at those companies where the owners can manipulate the activities of the company to influence their own tax position. Therefore, broadly speaking, in most cases an

14 Jul 2020 11:24 | Produced by Tolley Read more Read more

Taxation of loan relationships

Taxation of loan relationshipsThe vast majority of companies will have loan relationships and so will need to consider how they are taxed under the loan relationship rules. There are also specific provisions dealing with relevant non-lending relationships and other deemed loan relationships.

14 Jul 2020 13:48 | Produced by Tolley Read more Read more

Computation of corporation tax

Computation of corporation taxCompanies pay corporation tax on the taxable total profits (TTP) generated in a chargeable accounting period (CAP).To ascertain whether the entity is within the charge to corporation tax, see the Charge to corporation tax guidance note.For more information on the type

14 Jul 2020 11:16 | Produced by Tolley Read more Read more