Draft legislation (accessible version)

1 Energy (oil and gas) profits levy: decommissioning relief agreements

1. (1) In section 80 of FA 2013 (decommissioning relief agreements), after subsection (4) insert—
   1. “(4A) No payment is to be made to a company under a decommissioning relief agreement by reference to the energy (oil and gas) profits levy.
   2. (4B) Every decommissioning relief agreement (whenever entered into) is to be read accordingly.”
2. (2) The amendment made by subsection (1) has effect in relation to claims under decommissioning relief agreements made in relation to decommissioning expenditure incurred on or after 26 November 2025.