Energy companies to avoid windfall tax
Prime minister working with energy companies on initiatives to avoid a one-off tax
Prime minister working with energy companies on initiatives to avoid a one-off tax
Gordon Brown is to resist pressure from Labour backbenchers to introduce a
windfall tax on energy companies to help poor families cope with rising fuel
bills.
The prime minister is working with companies in the energy industry to come
up with a range of initiatives to help the poorest cope with higher gas and
electricity prices and avoid the need for a windfall tax.
Energy groups are said to be co-operating with Brown in order to avoid the
threat of a tax, including investing profits into renewable energy and bidding
for an extra 3% of emissions trading permits, according to the
Financial Times.
It is understood that Brown is taking personal charge of the initiative which
will form part of an autumn policy relaunch, with a £2.75bn drive to make
low-income family homes more energy efficient also mentioned
Further reading:
Government mulls increase in
carbon credits sold at auction
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe amount of tax saved by businesses through HMRC’s Patent Box scheme has increased by 23% over the last five years, from £1.14 billion in 2017/18 to...
View articleUK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...
View articleThe legislation, which introduces a global minimum tax of at least 15% for multinational enterprises, aims to limit tax competition and ensure large c...
View articleThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleAccountants must stay vigilant, adapt their tax strategies to evolving regulations, prioritize transparency, and foster collaboration with tax authori...
View articleAs the government prepares for re-election, PM Sunak promises to control spending in order to bring forth tax cuts next year Read More...
View articleThe Office for National Statistics revealed that the UK economy shrank by 0.3% in March after the economy grew by 0.1% in the previous three months Re...
View articleAs the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...
View article