Marathon Oil set to launch tax appeal after taking £80m hit

North Sea operator Marathon Oil is planning another appeal after a UK tax tribunal ruling left it with a £80million-plus hit to cashflow.

The Houston-based company said in a filing to the US Securities and Exchange Commission the issue was all to do with the timing of deductibility for certain Brae area decommissioning costs.

Marathon received an adverse ruling from the first-tier tribunal, which is responsible for handling appeals against some tax decisions made by HM Revenue and Customs, late last year.

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