IR35 could be ‘death knell’ for one-man band offshore contractors
A looming tax change may be the “death knell” for many one-man band offshore contractors, a leading north-east accountant has warned.
HMRC
Aberdeen energy recruitment firm ‘forced into administration’
An Aberdeen energy recruitment firm has announced it has been forced into administration after it was unable to recover fees due from a major client.
Awilco challenges £7.7m tax bill from HMRC
Rig contractor Awilco Drilling said today that it had appealed against the UK taxman’s decision to slap it with a £7.7 million bill.
HMRC issues apology for delays to tax relief claims
HMRC has apologised for taking up to seven months to process R&D tax relief claims which was alleged to be preventing some UK companies from progressing.
New Norwegian frontiers
Studies continue to identify northern Norway and the Arctic as a growth area for the Norwegian oil and gas industry.
Clarity needed on decommissioning costs, say MPs
Significant uncertainty remains over the multibillion-pound cost to the taxpayer of decommissioning offshore oil and gas assets, MPs have said.
HMRC launches new Profit Diversion Compliance Facility
On 10 January 2019, HMRC launched a new Profit Diversion Compliance Facility (PDCF) aimed at multinational enterprises who have used cross-border arrangements that HMRC considers may result in an artificial reduction in UK profits, including arrangements targeted by the Diverted Profits Tax (DPT) legislation.
North Sea ‘alive and well’ as tax receipts back to black
A huge swing in North Sea oil revenues suggests the sector is "alive and well", an industry chief said.
Offshore firms face £145million bill due to Brexit customs charges
Customs charges due to Brexit could cost the offshore industry £145million this summer and £120million every year thereafter, north-east firms have been warned.
Rise in Scottish exports largely down to upturn in oil and gas sales
Goods exports from Scotland grew by almost a fifth to reach £28 billion, new UK Government figures have revealed.
Promoted: The day the ledger book died
Some businesses may have won a delay in the Spring Budget, but others now must embrace technology or face the wrath of the tax man, writes Susie Walker