tax

Philip Hammond said money raised from any tax changes would be invested in developing new, greener products and processes

The European Commission has imposed definitive anti-dumping duties on corrosion-resistant steel from China. The announcement follows its investigation confirming Chinese producers were “dumping” the product on the EU market. The measures that will be put in place for the next five years range from 17.2% to 27.9% – similar to the tariffs already set on […]

A deposit-based system for recycling bottles in Norway could be implemented in the UK. The Norwegian Government has put a tax on every bottle that isn’t recycled – consumers pay a deposit on the bottle depending on size, return the empty bottle into a machine which reads the barcode and produces a coupon for the […]

The US Government has confirmed it will be imposing tariffs on imported solar panels. The announcement marks Donald Trump’s first major trade action of 2018 and is part of his “America First” policy. A tariff of 30% will be applied to imported solar panels, most of which come from China. It will fall to 25% […]

  The UK Government is considering introducing a tax on single-use plastic items, including polystyrene takeaway boxes and bubble wrap. Chancellor Philip Hammond said he will work with Environment Secretary Michael Gove to investigate how the tax system and charges on single-use plastic items can reduce waste. A call for evidence is to be launched […]

The trade association for the oil and gas industry has said the Autumn Budget could save millions of pounds by introducing a tax change to defer the decommissioning of mature fields. Oil & Gas UK says the government has a limited window of opportunity to allow tax history to be transferred from seller to buyer […]

Competition for attracting oil and gas investments has driven changes in tax structures around the world. That’s according to a new report from professional services firm EY which explores the changes made to oil and gas corporate tax regimes across 87 countries last year. It suggests not only have many essential tax adjustments already been made in response […]

The European Commission has decided to impose anti-dumping measures on two steel products from China and Taiwan. Its investigation confirmed Chinese and Taiwanese stainless steel tube and pipe butt-welding fittings had been sold in Europe at dumped prices. The products are used to join pipes and tubes of stainless steel and are commonly used in […]

Sainsbury’s and IKEA are among some of the big brands urging Chancellor Philip Hammond to stop the proposed rise in business rates for solar panels. The two companies have joined the Solar Trade Association (STA) and more than 160 organisations including, schools, public institutions and energy suppliers, which are calling on the government to drop […]

Campaigners against fuel taxes say the longest duty freeze in history should be turned into an actual reduction. FairFuelUK say Philip Hammond, the Chancellor of the Exchequer, needs to accept that lower fuel prices are better for the economy and should do something about it in tomorrow’s Autumn Statement. The group use George Osborne’s continued […]