Energy: Taxation
2026-07-21 · Treasury · HL2572 · Official question
Question
To ask His Majesty's Government whether they are planning to increase the Energy Profits Levy.
Answer
The Government introduced a temporary windfall tax, the Energy Profits Levy (EPL), on extraordinary profits from oil and gas companies in 2022. The EPL currently levies 38% tax on profits in addition to the 40% rate of tax in the permanent fiscal regimeTh...