Windfall tax talk rattles Tories as Rishi Sunak reportedly backs the levy May 22, 2022 The prospect of a windfall tax on large energy firms has provoked a fierce Tory backlash, after it was revealed yesterday Rishi Sunak is in favour of a levy.
The City View: Offshore Energies UK CEO on deleterious effects of a windfall tax May 25, 2022 Today Andy Silvester chats to Deirdre Michie, CEO at Offshore Energies UK. They unpick the windfall tax, the risk it poses for smaller energy firms and the sector in general, the state of the energy industry, and the seemingly lackadaisical speed of the energy transition. In other news: M&S is leaving its Russian franchise business, [...]
SSE teases mega investment plans to fight off prospect of a windfall tax May 25, 2022 Energy giant SSE has reported a 15 per cent boost in profits and a 23 per cent rise in earnings per share, driven by record investment this year.
Sunak praises North Sea oil and gas industry despite imposing windfall tax June 22, 2022 Rishi Sunak has reaffirmed his support for the North Sea oil and gas industry, labelling it “the foundation of the UK’s energy supply/"
Oil and gas body warns windfall tax will deter investment in domestic energy sector June 20, 2022 OEUK has ramped up its criticisms of the imposed windfall tax - describing the new levy as "punitive," amid fears it could jeopardise investment.
An online sales tax would be a small hassle for Amazon, but a hard blow for our shops June 21, 2022 The Treasury is considering whether to introduce an online sales tax (OST) as a “means to rebalance the taxation of the retail sector between online and in-store retail”. A decision is expected in autumn – probably as part of the Chancellor’s Budget. If the government has any sense, it will run a mile from taking [...]
Retail chiefs to meet with Treasury amid fears of fading interest in online sales tax June 20, 2022 Top retail bosses will meet with a Treasury minister later this week with the hopes of reigniting government interest in launching an online sales tax and reforming the current rates system. According to a report by Sky News, executives from retail powerhouses including Amazon, Asda, ASOS, Currys and JustEat Takeaway, are to meet with the [...]
It’s time to go back to basics and go about fixing our deficit before more tax cuts October 26, 2022 As inflation pushes prices further and further up, food has been getting more expensive for some time. But, as the cliche goes, there was never such a thing as a free lunch.
Unpaid crypto tax surged by 432 per cent from last year, HMRC says July 18, 2022 The amount of unpaid tax that rich crypto investors owed on their investments soared by 432 per cent from last year, according to HMRC. Data by law firm Pinsent Masons today said that HMRC identified £2.28m in suspected underpaid tax concerning crypto assets in 2021-2022, a substantial increase from £428,000 the previous year. Steven Porter, [...]
EV owners could foot a total bill of £169.5m a year in road taxes after excise duty introduction November 22, 2022 Electric vehicle owners could pay up to £169.5m a year in road taxes, according to new research. Figures published today by Forbes Advisor reported that if electric vehicles (EVs) were to pay the same amount of vehicle excise duty (VED) as petrol and diesel cars – £165 per year – it will cost their owners [...]