UK Supreme Court Denies Orsted's Wind Farm Tax Relief Claim
The UK Supreme Court has ruled against Danish energy company Orsted, denying its claim for tax relief on £48 million ($65 million) spent on studies and surveys for offshore wind farm development. The court's unanimous decision stated that the expenditures did not have a 'close connection' to the physical assets of the wind farms, a requirement for capital allowances. The ruling emphasized that the environmental studies conducted were only tangentially related to the diminishing value of the wind farm assets, thus disqualifying them from tax relief. 
