News
Fuel duty may be frozen but the fight goes on
The chancellor George Osborne scrapped the 3 pence per litre rise in fuel duty scheduled for this January. The decision not to increase the tax was confirmed by Osborne in...
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News
Logistics UK members discuss key issues with Minister of State for NI
...through taxation to assist businesses. Also mentioned was the need for delivery of long delayed, key infrastructure projects such as the A5 and York Street Interchange, and upgrade of the...
News
Concerns raised – UK housing: fit for the future?
...will be paid for by the public, either through additional taxation, higher energy bills or at the expense of something else. Given the existing enormous pressure on both public and...
News
What’s been happening in the bulk liquid storage sector?
...Customs Warehousing and European Union Acquisitions Tax and VAT. “There is much more dialogue needed, but I am happy to report that we are making positive progress and are committed...
News
LCM Group launches with acquisition of PIS (Ireland)
...This acquisition was facilitated by Mills Selig Solicitors, Clarion Solicitors, and O’Reilly Stewart Solicitors. Tax advice was provided by BHP Chartered Accountants and funding by Barclays Bank. The photo shows...
News
Robust financial performance
...9.4 8.4 +11.9% EBITDA (in US $m) 300 311 (3.5%) Profit after Tax (in US $m) 161 168 (4.2%) Including FY18, Essar has invested over $850 million since acquiring...
News
Brobot – successful but ‘remaining vigilant’
Brobot Petroleum, which operates 23 filling stations, has successfully appealed via the First Tier Tax Tribunal against HMRC’s imposition of unreasonable conditions to obtain an excise duty Deferment Account Number:...
News
Fuel poverty could affect an extra 300,000 households this winter
...from a year ago – see prices and margins 2012, page 6 of the January issue. The group calls for the government to use the carbon tax revenue for the...
News
Budget priority – reduce fuel duty
...for natural gas and biomethane relative to diesel rates for at least 10 years. • Ensure that the introduction of the HGV Road User Levy will be tax neutral in...
Interview
How Phillips 66 is driving the industry evolution to future fuels
...a taxi to show me around the city.” This enthusiasm for new cultures was clearly a significant factor in the way Renee embraced the UK opportunity despite the hurdles. “The...
Opinion
Low Carbon Fuels Strategy is urgently needed for transport decarbonisation progress
...closer partnership between government and industry to navigate the transition to a greener economy, in a way that is cost efficient for the sector, its customers and taxpayers. Uncertainty is...
News
The future of oil heating – watch the debate
...Code for Sustainable Homes, bioliquids being ruled out of the Renewable Heat Incentive(RHI), the possibility of an extra tax and the RHI subsidies. Whilst Riello sees oil working in partnership...
Insight
SUSTAIN calls for greater support, as survey reveals attitudes to premium pricing for sustainable solutions
...a chicken and egg situation. The government needs to do more to support sustainable fuels – they’re taxed at the same level as fossil and have none of the financial...
Insight
No easy decisions at Whitegate
...as the gross margin generated between product revenues and feedstock costs. A proportion of this added value is used to cover local taxation and operating costs that flow direct to...
News
Unite challenges first minister on the future of Grangemouth
...by anyone. It is a national scandal. Ultimately, it will be a major self-inflicted wound to the Scottish economy unless urgent action is taken.” In latest accounts, Petroineos recorded pre-tax...
Interview
Crime and punishment
...range of sanctions at our disposal. These range from seizure of assets, civil recovery of taxes evaded to prosecution. Sentencing is a matter for the judiciary; a review of which...
Opinion
Massive spring hike in fuel duty would add £5k pa to truck running costs
...Budgetary Responsibility (OBR) said that the tax hike, which would increase the price of petrol and diesel by around 12p per litre, could be introduced in late March 2023. Questioned...
News
Fuel laundering – is enough being done?
...are more likely to spend time in prison if you block a road carrying a union flag, than if you cheat HM Revenue out of millions of pounds of tax....