Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I agree, better of crediting everyone’s energy accounts with the money rather than giving it to them
In cash. They are most likely going to spend it on other things which will lead to guess what……more inflation!
Still mad to give people lump sums into bank accounts, talk about squandering money. Every house hold Inc rich get £400? Ok... COVID profiteering companies / people in the shadows are ignored, can't get more windfall than that, but then all the orders went to government mates so guess that's why.
Don't mind BP paying some, I do mind a lazy, half assed , not dealing with the problem result. The country really is a mess, no leadership, thought or common sense
BP do pay tax on overseas profits but will
Make a loss this year anyway due to Rosneft. They will probably move some of their green investment from this year to next to cover the tax. Either way no real impact to BP.
The UK accounts for a very small part of our total global production. Also the investment allowance appears to almost cover the cost of the levy.
The share price will. move now this is behind us
£4.50 -£5.00
Cheers Dan & Meoryou that makes sense now! I was thinking they would raise far more than 5 billion over a year if it was on total profits!
it will be a pittance - maybe even close to zero for BP considering our investment into green activities. Gov plan to make 5 billion over the year from across the industry....
The Shell page on here agree it’s only UK profit and seem to see it as a positive as they expected worse.
They also say at least till 2025 no more talk of windfall tax as it’s already here .
Also investment allowance allows you to offset some windfall tax
"I have a daughter whom tried to contact an official about ways of insulating her home ,she has never heard anything from them.That is where the money should be getting spent "
Insulating your house now is too late.
Insulation also drastically up in prices, generally unavailible anyway and no decent installer base anyway.
A sensible person would have done it years ago, its not hard!
Why should oil companys shareholders subsidise individal peopls lack of common sense and actions. Those expensive posh mobile phones and Costa Coffees everyday must have been more 'urgent'
Only on UK profits, I can't find any information on how much these are but can't imagine they are a large proportion of the total.
Is the tax only going to be on the extra ordinary profits? What are they going to base ordinary on? Last yr p*ss poor lockdown profits, the average of last 5 yrs?
Also when is the point it stops? If oil drops below 100 dollar? We have had oil over 100 loads times in past. Never had to pay a robbery tax
Enso that 80% investment allowance makes a lot of sense and way too advanced for the Opposition who can only think about raising taxes . They cannot conceive anything further than that like encouraging massive inward investment from overseas.
I think the 25% is even worse than it looks unless I’m working it out wrong?
10 billion profit after 40% Tax before was 6 billion! Now it will be 3.5 billion after 65% Tax+WFT
That’s a loss on profits of 41% compared to normal!
Originally I was thinking it would be 25% on the ‘extraordinary’ profit after Tax
Either way it looks like it was priced in which many of us were thinking
The green loonies are trying to stop companies from opening up new oil fields in the North Sea . One company actually walked away from it.
So how are they going to be able to invest if they are busy in court fighting them .
Can't offset previous tax losses either. Lmfao, 65% tax ignoring the re investment , this is pure extortion, is that the right word lol
No mention that the government will remove vat on gas an electric. And all the tax on petrol. What about their extrodinary profits
Sunset clause 2025, or if prices return to normal, etf is normal?. This isn't a windfall tax at all
So a 25% surcharge on extraordinary profits with a "super-deduction" 80% Investment Allowance. We'll easily swallow that and be in a position to take advantage of the investment allowance.
A tax incentive to invest . But after you do that they can change their mind an tax the sh*t of of you. Dont believe anything they say. Move HQ Abroad
If people are struggling now ,what is it going to be like in the winter when the heating is switched on .How many will spend the money on ways to insulate there homes thus helping to lower costs .
We will have the same will happen in a few months time .
I have a daughter whom tried to contact an official about ways of insulating her home ,she has never heard anything from them.That is where the money should be getting spent .
There’s is an investment allowance for oil companies
Looney mentioned about that we were a cash machine
On news Bp made 4.9 billion in 3 months
Tax on energy companies 25% but allowance for green projects
Hopefully with the windfall tax done, BP. can now get on and raised the divi / good on to their Rosneft stake till they get something for it/ invest less etc, in other words can now reward the shareholders rather than writing about the government