Providing guidance for companies who have signed a Decommissioning Relief Deed (DRD) with Her Majesty’s government and who wish to submit a claim under the terms of the DRD.
The Decommissioning Relief Deed (DRD) is a contract between the government and companies operating in the UK and UK Continental Shelf, to provide certainty on the tax relief they will receive when decommissioning assets.
The DRD provides that, in such circumstances as are specified in the agreement, if the amount of tax relief in respect of any decommissioning expenditure incurred by the qualifying company is less than an amount determined in accordance with the agreement (the reference amount), the difference is payable to the company.
The government has published guidance for companies who wish to submit a claim under the terms of the DRD.
Further details on Decommissioning Relief Deeds