RE: Less tax than expected by treasury27 Apr 2023 09:31
lol, what do these idiots expect ..... Companies are fighting for survival and by any means necessary, including 'loopholes', will be used to keep jobs and ensure UK energy security.
Wait until 2023 figures come in .... not sure what assumptions were made when calculating tax levy revenue but I sure as 'ell guess it wasn't sub 100p/therm and sub $80 barrel.
PS Official Government meaning of loophole for Energy Profits Levy, "The energy profits levy included a ‘super-deduction’ style relief which aimed to encourage companies to invest in UK oil and gas extraction, putting more UK gas on the grid for longer, supporting jobs and the economy and bolstering the future energy security of the UK."
aimo & dyor