THE GOVERNMENT IS likely to exempt new North Sea oil and gas fields from its windfall tax on the industry, reports have suggested.
The Times reports that Treasury officials are in discussions with companies about how to ensure that new fields will still be developed.
The industry has warned that tax revenues will go down and the UK will be increasingly dependent on imported fuel. The French energy company Total said the Treasury was considering offering exemptions from the tax to gas producers because on the lower profits made on gas, The Times said.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states