The UK launched a consultation Monday on tax deductions available for early construction costs in response to a high-profile court loss for Danish energy giant Orsted.
His Majesty’s Treasury is seeking evidence on the types of predevelopment costs incurred, their treatment under the current rules, and their impact on investment decisions.
The consultation centers on the potential fallout of a recent ruling against Danish energy giant Orsted, including how it has affected companies’ understanding of predevelopment costs.
The UK Supreme Court ruled in April that Orsted couldn’t claim tax relief on the £48 million ($65 million) the company had spent …