HMRC has boosted projections by £1.1billion for the amount of tax repayments it expects to give oil firms for North Sea decommissioning.

In its annual accounts, released by the National Audit Office (NAO), HMRC said it expects to repay a total of £9.4bn up to 2065, up from a projected £8.3bn estimated in 2018-19.

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Photo credit: Energy Voice

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