Awilco Drilling unsuccessful in its appeal against HMRC over tax bill

  • Date: 22-Jul-2021
  • Source: Energy Voice
  • Sector:Economy
  • Country:Gulf
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Awilco Drilling unsuccessful in its appeal against HMRC over tax bill

Awilco Drilling has been unsuccessful in its appeal against Her Majesty’s Revenue and Customs (HMRC) over a £6.8 million tax bill.

It relates to the tax treatment of a fee arising from the Aberdeenshire-headquartered firm’s 2015 accounts on the termination of a drilling contract for the WilHunter rig.

The troubled drilling rig contractor, through its WilHunter subsidiary, said there are “procedural and substantive” ground for challenging the decision made by the First-tier tribunal.