Oil giants threatened to slash North Sea oil investment if ministers opted for levies which they thought unfair, according to the Sunday Times.
Speculation that chancellor Gordon Brown might hit oil companies was prompted by results from BP, which reported a £5.6bn profit for the first half of the year.
Meanwhile, head of economics at business services firm Tenon, Maurice Fitzpatrick has said the chancellor could impose a 20% surcharge on North Sea oil taxation to finance a 3p cut in excise duty on fuel.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy