UK HM Treasury has announced that the 35% Energy Profits Levy (EPL) for oil and gas companies will remain in place until March 2028, although a new Energy Security Investment Mechanism will be introduced that essentially removes the EPL if oil and gas prices fall to historically normal levels for a sustained period (reportedly 6 months). The 35% EPL is charged in addition to the 30% corporation tax and the 10% supplementary charge, resulting in a marginal tax rate of 75%. --- New oil and gas tax changes set to protect energy security and British jobs The Energy Profits Levy,...