TaxCorporate TaxEnergy companies to avoid windfall tax

Energy companies to avoid windfall 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

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

2m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson