Explanatory Notes

Finance Act 2013

2013 CHAPTER 29

17 July 2013

Introduction

Section 93, Schedule 32: Decommissioning Relieg: Restrictions on Allowances for Certain Oil-Related Expenditure

Background

67.The amendments made by this section form part of the Government’s wider package of measures to provide greater certainty in respect of decommissioning tax relief, remove barriers to the transfer of licence interests and increase capacity for additional investment in the UK Continental Shelf.