Spinning—Like a Circle in a Spiral

Liz Bossley () and Nigel Harris
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Liz Bossley: Consilience Energy Advisory Group Limited
Nigel Harris: Glasgow University

Chapter Chapter 3 in Brent Crude Oil, 2023, pp 27-41 from Springer

Abstract: Abstract Following the early discoveries of oil and gas in the UK sector of the North Sea, the Labour government of Harold Wilson enacted The Petroleum and Submarine Pipeline Act which established the British National Oil Corporation (“BNOC”), the British state oil champion. it was also recognised that the market could be a perfect tool for minimising taxation for the larger players in the North Sea oil industry. So-called “tax spinning” is explained in detail in this chapter.

Keywords: Government; Taxation; BNOC; Tax spinning (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-28232-4_3

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