Following on from the North Sea Transition Authority’s (NSTA) announcement on 1st November 2022 concerning the retirement of the CoP process, the NSTA has published the following additional text on its ‘Cessation of Production’ webpage:
“For the licensee, please email the relevant Area Manager with:
– once production has ceased permanently and all the wells have been shut in, of the date on which this occurred. Please also provide the Licensees’ written consent to the NSTA sharing this information with HMRC should they request it to process a claim for Transferrable Tax History.”
Source: NSTA.