Total Energies slashes £100m from North Sea plans after windfall tax December 1, 2022 Total Energies plans to cut its investment by a quarter next year, after the Government tightened the windfall tax last month.
Windfall tax the backdrop for energy giants’ results May 1, 2022 London’s biggest oil companies will face an odd dilemma this week as they present what is likely to be their best set of results for years while facing calls to cough up more in tax. The businesses are predicted to report a combined 13 billion dollars (£10.5 billion) in profit from the first three months [...]
Bosses at Joules brace for ‘significant loss’ in pre-tax profit this year August 19, 2022 Bosses at retailer Joules are bracing for a “significant loss” in profit in the first half of this year, as inflation and the recent heatwave hit sales. While the company expects its finances to improve in the second half of the year, the board announced today, Joules is expected to report a pre-tax loss for [...]
BBC ‘fully co-operating’ as offices raided by India tax officials after documentary on PM Narendra Modi February 14, 2023 Officials from India’s Income Tax department began conducting searches on Tuesday at the BBC’s offices in the capital, New Delhi. It comes weeks after the British broadcaster released a controversial documentary that examined prime minister Narendra Modi’s role during 2002 anti-Muslim riots. Teams from the tax department surveyed the BBC’s Delhi and Mumbai offices, the [...]
Our growth problem won’t be fixed by tax cuts unless we get people back to work February 13, 2023 Growth is not simply a product of tax cuts, but of looking at policies across the board which could boost our economic output and keep our workforce strong, writes Neil Carberry
‘Wind power, not windfall taxes,’ says energy sector to incoming PM Rishi Sunak October 25, 2022 Industry bodies across the energy sector urged incoming Prime Minister Rishi Sunak to boost domestic energy and not bring in new taxes.
Liz Truss defends tax-cutting agenda as outgoing PM leaves Number 10 October 25, 2022 Liz Truss has said the UK “cannot afford to be a low growth country” and defended her tax-cutting agenda in her final speech outside Number 10. The outgoing Prime Minister said “our country continues to battle through a storm” but that “I believe in Britain, I believe in the British people and I know that [...]
Pubs are vital parts of our community: they urgently need a tax cut August 16, 2022 If the pandemic taught us one thing, it’s that the City is far more than traders, brokers and bankers. It’s the teams who packed up a host of high-end kit on a Friday and parked it in front rooms in the Home Counties in time for Monday’s open; the insurers and the compliance bods who [...]
UK firms well below EU average for tax roll burden of workers on £30k November 28, 2022 The UK has one of the lowest payroll tax burdens for businesses, with the average cost of employing a worker on £30k being £3,000. A new study by accounting company UHY shows Britain is below the European average, with the cost of keeping a worker in their job being 10 per cent of their salary, [...]
Exclusive: Industry body warns against more stringent windfall tax August 11, 2022 Offshore Energies UK has warned against further tampering to the windfall tax, which it believes would hurt investor confidence.