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.
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...