United Kingdom

Main business activities

• Upstream
• Integrated Gas
• Downstream
• Renewables and Energy Solutions
• Trading and Supply
• Other support activities

Shell’s footprint

Shell has been present in the UK since 1897. In 2022, Shell moved its headquarters and tax residence to the UK. Our gas plants, pipeline systems and import terminals deliver more than 20% of the UK’s gas supply. Through Shell Energy, we provide electricity to around 1.4 million customers in the UK. We continue to invest in electric mobility infrastructure to support the UK’s switch to electric vehicles. We also have projects and technology teams in Aberdeen and London. They support the delivery of major projects around the world, from developing gas-to-liquids plants to deep-water exploration. Every year, Shell spends more than £200 million on research and development in the UK. There is also a Group treasury team in London that provides central cash management and other financial services.

Country financial analysis

The corporate income tax rate in the UK is 40% for Upstream UK continental shelf activities and 19% for all other activities. Shell did not pay net corporate income tax in 2021 because of tax losses arising in the current and previous years. In the Upstream business, losses arose due to significant investment in the UK continental shelf. Shell also received tax refunds related to decommissioning costs incurred. Decommissioning is a cost incurred as part of the life cycle of the field and is tax deductible. For late-life assets, decommissioning costs can generate net tax losses that offset profits made and taxes paid in previous years. As a result, tax that has effectively been overpaid is refunded. Our Payments to Governments Report for 2021 shows that Shell paid around $10.7 million in fees.

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