Budget

Chancellor George Osborne yesterday finally responded to months of appeals from industry leaders to slash North Sea oil and gas taxes by announcing in his Budget statement that Petroleum Revenue Tax (PRT) would be cut from 50 per cent to 35 per cent. The existing supplementary charge for oil compani

The Scotch Whisky Association has welcomed Chancellor George Osborne’sannouncement yesterday to cut the duty paid on spirits by 2 per cent -the first cut in spirits duty for 20 years. The industry body, which has spent months lobbying for the break, said the move will benefit both producers and co

The annual tax to be raised from the value of all the debts in UK banks is to be raised from 0.156 per cent to 0.21 per cent following yesterday’s budget announcement. It is the ninth rise since the tax was first introduced in 2011 at a rate of 0.05 per cent.