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Should be getting an RNS on this soon. Directly own about 8/9% of HBR now.
They have declared they are free to dispose of the shares distributed to them to maximise the value of their holdings but they believe the transfer itself has no tax implications.
My old Cambridge law professor used to tell me: 'beware of people who ask questions when they already think they know the answer!'
The Bill will become law this week I think and then the O&G co's will be under a bit of pressure to assess and publish impact. The uncertainty will evaporate and this will help the SP move up.
L3Trader
I am sorry, sometimes I write quickly, but you do appear a little discombobulated.
A rebate is payable on decommissioning in the majority of cases.
Decommissioning COSTS are very different to this REBATE and these COSTS are NOT allowances. So you are correct to a certain extent.
Rebates however are not included in the profit test. So they ARE therefore ALLOWANCES.
I hope this makes sense.