Tax cuts to preserve oil and gas jobs
18 March 2015
Substantial tax cuts aimed at safeguarding jobs in the UK’s oil & gas sector are among measures expected to affect recruiters from Budget 2015.
Wed, 18 Mar 2015
Substantial tax cuts aimed at safeguarding jobs in the UK’s oil & gas sector are among measures expected to affect recruiters from Budget 2015.
According to The Independent Chancellor George Osborne will use his Budget address today [18 March] to announce tax cuts for oil & gas firms to stave off job losses in the light of recent falls in the price of oil.
Recruiter reported last week on the Bank of Scotland’s fourth annual oil & gas report that showed companies in the sector expect to create 8,000 jobs over the next two years but the falling oil price had delayed planned investment.
The Guardian reports this morning Osborne will announce the energy sector will also be boosted by the creation of jobs at a tidal lagoon green energy project that will produce electricity from turbines in Swansea Bay, south Wales.
Of interest to the contractor and umbrella company community will be the expected announcement of the ending of the paper tax returns which, reports say, will be replaced by real-time digital tax accounts for all individuals and small businesses by 2020.
Tax simplification and late payment support were the two top areas UK small businesses said they would like addressed in this year’s Budget, according to a survey by YouGov and serviced office space supplier Flexioffices, as reported by Recruiter last week.
Other reported announcements include the introduction of ultra-fast broadband around the UK, while technology recruiters may welcome the unveiling of two new technology enterprise zones in Plymouth and Blackpool.
The chancellor will deliver his speech from 12.30pm following Prime Minister’s Questions.
Watch out for our coverage of the Budget 2015 later this afternoon.
According to The Independent Chancellor George Osborne will use his Budget address today [18 March] to announce tax cuts for oil & gas firms to stave off job losses in the light of recent falls in the price of oil.
Recruiter reported last week on the Bank of Scotland’s fourth annual oil & gas report that showed companies in the sector expect to create 8,000 jobs over the next two years but the falling oil price had delayed planned investment.
The Guardian reports this morning Osborne will announce the energy sector will also be boosted by the creation of jobs at a tidal lagoon green energy project that will produce electricity from turbines in Swansea Bay, south Wales.
Of interest to the contractor and umbrella company community will be the expected announcement of the ending of the paper tax returns which, reports say, will be replaced by real-time digital tax accounts for all individuals and small businesses by 2020.
Tax simplification and late payment support were the two top areas UK small businesses said they would like addressed in this year’s Budget, according to a survey by YouGov and serviced office space supplier Flexioffices, as reported by Recruiter last week.
Other reported announcements include the introduction of ultra-fast broadband around the UK, while technology recruiters may welcome the unveiling of two new technology enterprise zones in Plymouth and Blackpool.
The chancellor will deliver his speech from 12.30pm following Prime Minister’s Questions.
Watch out for our coverage of the Budget 2015 later this afternoon.
