Policy paper

Energy Profits Levy reforms 2024

These measures are about reforms to the Energy Profits Levy following announcements made at the July Statement 2024.

• From: HM Revenue & Customs
• Published: 30 October 2024

Documents

Energy Profits Levy — reforms 2024

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Draft legislation

PDF, 133 KB, 3 pages

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Draft legislation (accessible version)

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Details

These measures:

• increase the rate of the Energy Profits Levy by 3 percentage points
• extends the end date of the Energy Profits Levy to 31 March 2030
• removes the Investment Allowance
• amend the Decarbonisation Investment Allowance to 66% to maintain the cash value of the relief

Published 30 October 2024