Harbour Energy plans job cuts in Scotland as toughened windfall tax bites January 18, 2023 The North Sea's biggest oil and gas producer is planning job cuts in response to the windfall tax - as the backlash to the levy intensifies.
North Sea industry push for windfall tax price floor in bid to boost bank lending April 18, 2023 North Sea oil and gas producers are pushing the government to introduce a price floor in the windfall tax so that banks will offer better loans.
Rishi Sunak: PM orders probe over Nadhim Zahawi’s tax dispute January 23, 2023 Rishi Sunak has ordered an investigation into Nadhim Zahawi as the Tory party chairman faced growing calls to quit after paying a penalty to resolve a multimillion-pound tax dispute. The Prime Minister asked new ethics adviser Sir Laurie Magnus on Monday to assess whether the former chancellor breached the ministerial code with the HC settlement. [...]
Brits paid billions more in taxes over the last year as HMRC ramped up tax collection June 23, 2022 The British population paid more in taxes in 2021-2022 as HM Revenue and Customs collected £718.2bn in taxes, a near 23 per cent rise from the year before. Total HMRC tax receipts for April 2022-May 2022 were £121.9bn, according to HMRC data released today. These were £14.8bn higher compared to the same period last year even as the [...]
London households to be hit with Council Tax increase – to pay for new Met officers January 18, 2023 London households are set to be hit with higher Council Tax in 2023 in part to pay for more Metropolitan Police officers. Sadiq Khan announced this morning that he was proposing a £38.55 increase on the average Band D house in the capital. He has the power to put top-up ‘precepts’ on local council bills [...]
MPs call for crackdown on advisors enabling tax avoidance schemes October 24, 2022 A group of cross-party MPs have called on the UK government to begin cracking down on the accountants and financial advisors that facilitate tax avoidance schemes. In a new report, the all-party parliamentary group (APPG) on anti-corruption and responsible tax called for the UK’s tax system to be overhauled, to boost growth, increase tax revenues, [...]
Enquest urges government to restore investor confidence in UK oil and gas after £60m windfall tax hit September 5, 2023 Enquest has warned the current fiscal regime is damaging confidence in the North Sea, and has called for further changes to the windfall tax.
Dr Martens share price tumbles 11 per cent as pre-tax profits miss forecasts June 1, 2023 Dr Martens will launch a share buy back programme of up to £50m as the boot maker looks to up investment following a 26 per cent slide in pre-tax profits following bottleneck issues in its US warehouse. The London-listed retailer hit record revenues during the year of £1bn, as sales recovered post-pandemic and it opened [...]
Enquest backs calls for windfall tax price floor after posting £33m losses April 5, 2023 Enquest has joined industry calls for a windfall tax price floor, putting further pressure on the government to reform the levy.
Scottish Power owner Iberdrola expects hefty profit rise before windfall tax February 22, 2023 Scottish Power owner and Spain's biggest utility firm Iberdrola expects its net profit to increase by eight to ten per cent this year.