Worried North Sea oil companies are set to meet the Treasury today in a bid to avoid a potential windfall tax, which could be initiated to balance Gordon Brown’s books.
Smaller companies within the sector, such as Tullow Oil and Abbott, will argue that bigger players such as BP and Shell have presented the sector’s fortunes in too good a light.
Alasdair Locke, executive chairman of drilling group Abbot, told The Guardian that large oil companies appeared to think they would not be targeted because they were spending more.
‘It seems as clear as a pikestaff that the chancellor is in need of money, and he has got to borrow or raise taxation.’
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...