Companies know that from 1 November, the EPL tax rate will be increased from 35% to 38% with the loss of the EPL investment allowances. They also know that the EPL capital allowances will be “reduced” but must wait until budget day to find out by how much. Join our SVP for fiscal research, Graham Kellas, and Research Director, Gail Anderson, for a discussion on the following:
- The UK fiscal changes announced in the budget
- How this could impact UK investment, production and competitiveness
- Which companies could be most affected and what it could mean for M&A activity
Get to know our speakers

Graham Kellas
Senior Vice President, Global Fiscal Research
Over 30 years, Graham has advised on taxation matters and supported complex fiscal negotiations.
Latest articles by Graham
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Featured
Upstream fiscal 2025 outlook
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The Edge
Why the transition needs smart upstream taxes
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Featured
Energy fiscal policy 2024 outlook
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Featured
Conflicting ambitions will shape the upstream fiscal landscape in 2023 | 2023 outlook
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Opinion
Fair share: why a new approach to mined energy transition resources is needed
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Featured
Stage set for tougher fiscal terms for upstream operators in 2022 | 2022 outlook

Gail Anderson
Research Director, North Sea Upstream
Gail focuses on the North Sea Upstream industry and its gas and power sector.
Latest articles by Gail
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Opinion
North Sea upstream: 5 things to look for in 2025
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Opinion
Video | Shell and Equinor announce UK asset merger to create new JV
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Opinion
End of an era looms as Chevron seeks UK exit
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The Edge
Why the transition needs smart upstream taxes
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Opinion
North Sea upstream: 5 things to look for in 2024
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Opinion
The challenges and opportunities in Europe’s oil & gas, CCUS and hydrogen sectors