Huge profits but oil giant admits to paying zero tax in North Sea

[@jebbo-c1l]

shouldve nationalised it like Norway did and maybe you'd have a sovereign wealth fund like theirs. Too bad the tories wanted to give their private donors a big present

[@vincescotian8083]

Thatcher extracted oil and dumped it on the spot market, this funded the battle to defeat the miners.

[@alexandermorrison2218]

I’m sorry but it wouldn’t make a difference. You have to get your company’s to be more competitive overseas, also tax those companies with a clear strategic formula

[@robstrains8711]

So not only are we being ripped off for energy but we are paying them tax money as well what a joke.

[@HOLLASOUNDS]

All part of the plan to make the masses slave to there government. No small businesses or people will be able to live without government handouts.

[@MatthewChapmanYT]

Quit your job. Open a business. Exploit the system. I’m doing it right now, used to make 20k now make about 20k still ;) ;) ;) ;) …..

[@kushking949]

I hope any ceos of gas companies go slowly from covid

[@jimfixer9589]

@@tabularasa7775 - Losers? What about the elderly and those who cannot work due to disability or illness? Losers? Go get your head checked you smooth brained cancerous reprobate.

[@jimfixer9589]

@@tabularasa7775 - oh, you're just trolling...I see. well carry on..

[@squirrel9999]

Norway - The oil belongs to the people, not the companies The UK - The oil belongs to the the companies, not the people

[@jebbo-c1l]

privatise the profits, nationalise the losses

[@squirrel9999]

@@jebbo-c1l Infiltrate the dealer, find the supplier

[@expromanticart6491]

Yes, but you freeze to death in Norway, and it is the most expensive country in the world!

[@epursimuove1633]

Ain’t nothing wrong with that

[@robertwilkes2105]

Here in France energy price rises are capped at 4%. Low income families have already received €100 rebate, not a loan.

[@Bulletguy07]

Thats the benefit of being an EU member state with the IEM, both of which UK foolishly threw away pursuing the lunacy of Brexit........and now find ourselves facing a 56% increase on the same energy bills you will be raised by just 4%.

[@julianshepherd2038]

🏴󠁧󠁢󠁳󠁣󠁴󠁿 We'll be back

[@MrBoggins1234]

The benefit of investing and maintaining its own nuclear energy, unlike the UK whose government seem to put billions of taxpayers money into propping/incenting/giving relief for North sea gas extraction (ooh energy security) see that gas traded for astronomical gains, by BP et al on a bloated international market, then sell back to UK consumers via tens of failing privatised energy providers at crippling wholesale losses, at rates millions of us can't afford. Then tax payers bail out the largest energy provider, to the tune of billions. What an avoidable mess imo.

[@gdwnet]

You know that the UK helped out there? France look after the UK's power plants. Insane isn't it?

[@rakalu9994]

C’est vrai? Parce que EDF are sucking me dry 😭

[@simongentry]

now we know why the NHS is dying… why there’s no money for homeless children, or the elderly who can’t pay their gas bills. disgusting.

[@TheMagicJIZZ]

do you want to occupy saudi arabia or qatar or norway?

[@_____alyptic]

And he's going to say what he has with the BBC :/

[@richardcowley4087]

nhs, financed to the tune of 200 Billion every year, the biggest employer, 4o billion added onto that figure the last two years, stop lying about the nhs

[@richardcowley4087]

@@shugthehornyhaggis no chance of wee nippy krankie doing the right thing by anyone, too much rug munchin

[@richardcowley4087]

@@shugthehornyhaggis in fact not all, as Britain imports from the Saudis who are running the show, only essar the indian company imports russian oil as they do in india, not all oil used here in Britain is scottish

[@grahamturner1290]

We need an energy company windfall tax NOW

[@flucazade]

100% a windfall tax is required but going forward how about any tax fecking from them at all

[@spartacusforlife1508]

So national insurance is going up for us but these pay no tax?put the blame were it should go. Governments allowing tax loopholes you can drive a coach and horses through

[@HOLLASOUNDS]

Very few CES pay tax.

[@kushking949]

I hope any ceos of gas companies go slowly from covid

[@richard-gn3es]

It's not a loophole. It's intended

[@richard-gn3es]

@@tabularasa7775 i don't get why people post this sort of thing. Care to elaborate

[@kanedNunable]

most of the tories use those tax loopholes.

[@tuvaaq]

The old chestnut of "we create jobs" and the threats of taking them elsewhere. All infrastructure corporations should be forced into a legal status of a community interest company with a fiduciary responsibility to their service users and not their tax dodging shareholders.

[@berend_simons]

It's a public company. People's pensions are tied to BP's stock all around the world. Are you seriously suggesting we should collectivise companies such as BP owned by billions of people from every corner of the earth? I agree it's totally messed up but the solution you propose is impossible to implement.

[@Asylum5g]

Why on earth do they think creating jobs is enough. To be frank they need places to invest and they need people to help them exploit. I’m sure party donations help keep their tax rebates high 😂

[@tuvaaq]

@@Asylum5g it's practically a race to the bottom globally to attract business at the cost of workers and tax payers. Look at Amazon's HQ2 stunt!

[@scottflannigan3062]

@@tuvaaq The thing is like supermarkets etc, they cannot go anywhere the oil and gas has still to be extracted they can leave but the very worst that can happen is another company comes in or you set up a oil company state owned like Norway, so as long as their is a market and same with the nonsense about so many jobs i can guarentee they will only give people jobs they can make money out of expliot, they do not do it to help people, so if evey they did threaten to leave say on you go then.

[@TruthTortoise81]

What you are describing is socialism. We can't have that because the Sun and the Mail say it's a dirty word. Norway nationalized their share of the North Sea oil and became a fantastically wealthy country as a result.

[@desmondkurtz1936]

Tories: “we’re the best at managing the economy!” Also Tories:

[@flucazade]

they are the best at managing the economy for a certain group of people and feck everyone else.

[@scottflannigan3062]

@@flucazade Even at that with Brexit they have made a pigs ear of it

[@TruthTortoise81]

To think that Norway gained huge wealth from North Sea oil and gas while we actually subsidise BP as they make huge profits selling us energy at vastly inflated prices.

[@yogiguitar1]

they're totally corrupt and inept!!!! thats why since 1979 we've slipped down the league table of developed nations. just look at the history! they flogged everything we owned and now we're in for it. again. they should all be shot.send em ukraine.they're into war so they can go for it

[@cjh0751]

The are the best at screwing the country

[@superficialwannabe]

Corbyns idea of nationalising doesnt seem too crazy now does it? When will the establishment learn?

[@simonclarke7309]

The people need to learn the establishment is their enemy not other poor people thousands of miles away that the very same establishment wants us to kill.

[@hubertpierre9507]

Shell has chosen the UK for tax residency and has dropped ‘Royal Dutch’ from its name … Shell also didn’t pay any tax in the UK ( but did receive 100 million pounds from UK taxpayers in rebates ) and even their shareholders do not have to pay tax on dividends …

[@sonofsomerset1695]

Buy some shares in them then and stop moaning. No one is stopping anyone from doing that.

[@MatthewChapmanYT]

The chancellor is worth £500m wife’s business furloughed staff.. whilst 3 million tax payers received no covid support. This is why i no longer have a passport and don’t pay tax as I don’t believe in the system

[@Derrowssi]

@@MatthewChapmanYT So do you use the NHS and other public services?

[@MatthewChapmanYT]

@@Derrowssi no sadly in my area their isn’t enough doctors surgeries. Also the dentist waiting list is 9 years.. Cornwall :)

[@khuzram]

@@MatthewChapmanYT move elsewhere then stop complaining and do something about your situation it's easy to moan but if you were in their situation you'd do the same

[@NinjaSquirrel30]

Disgusting!! When will the average folk stand up an rebel like generations before!

[@guff9567]

I support all oil companies to keep all their hard earned money, and keep it far away from the grasping stubby fingers of socialist scum

[@sonofsomerset1695]

You're gonna go and work on an oil rig for free? I dont think so.

[@MatthewChapmanYT]

April….. when we submit our self employed earnings….. So so many made the tax free allowance. Not a penny more not a penny less. :) :) :) :)

[@richard-gn3es]

@@guff9567 gotta be trolling

[@richard-gn3es]

@@guff9567 because bp is literally getting social support.

[@kerryfry1857]

Voting Tory. The grift that keeps on giving.

[@yootaobe5536]

The grift that keeps on grifting.

[@_____alyptic]

@@yootaobe5536 or taking 👀

[@New-ye2fl]

All they need to do is throw the morons some immigration rhetoric, rinse and repeat. Independence for Scotland 🏴󠁧󠁢󠁳󠁣󠁴󠁿

[@hilaryporter7841]

As the corporations get ever richer and they claw back ever more in tax rebates, the benefits to the population will become progressively less. 'Benefits' being in the form of jobs which the corporations sell to political parties as those parties means to remain in power, i.e. massage the employment figures. It's obvious this game cannot go on because employees are becoming poorer at a faster and faster rate. Corporations are paying less and less tax, the system simply isn't workable in the long term. This is not capitalism, with all the warts that has, this is an out of control oligarchy ruling over a poorer and poorer workforce who's daily struggles to survive are becoming more desperate by the day. The oligarchy is savage and the only society it recognises as fellow humans also lives within their gated communities with tax haven lifelines. I'd say this crooked financial system has had its day.

[@michaelrch]

I agree with pretty much all your sentiments there. Except one. This IS capitalism. This end state of capitalism is built into the system itself. It concentrates wealth and power inexorably. That process is intrinsic to the system. It systematically exploits works and accrues the value that they create to an ever smaller group of capitalists who gain such market dominance and such dominance of the organs of our democracy that they create their own destruction. They render the working class poorer and poorer until the workers cannot even create the demand to keep the economy going. What we are seeing now is a repeat of the 1920s and 30s but with one awful exception. The destruction is not limited to our society now. It encompasses the whole natural world. The system is now so big that it has expanded beyond the boundaries that our finite planet sets. And all the while money and power continue to accrue to a tiny elite who are oblivious to the planetary catastrophe that is on our path. You are right. This system has had its day. This rotten, unjust and destructive system must end soon, or else everything will.

[@HOLLASOUNDS]

Unless We go after these criminals then they will get away with it.

[@hilaryporter7841]

@@michaelrch The only reason I feel it's not even capitalism, flawed as that is, is because at least with the previous version of that, corporations could not have grown to be the evil monsters they have grown into, the Monopolies & Mergers Commission would have had some restraining power on them. Now all that is gone, whilst these literal evil monsters are allowed to increase in size with no restriction on their powers and the meaning of democracy is dead.

[@michaelrch]

@@hilaryporter7841 Yes, but the controls are gone as a direct consequence of the functioning of capitalism. It always does this. It is impossible to constrain in the long term. It always concentrates wealth and power. And that power is used to corrupt government and undo the controls. As night follows day. And even after a big reset like the New Deal era when government did take back some limited control, over the decades it lost that control again. The new deal era of social democratic policy lasted from the 1940s until Thatcher and Reagan tore it all to pieces in the 1980s. Since then neoliberal capitalism has been wrecking everything in its path and concentrating wealth at a furious rate. Social democratic reforms always contain the seeds of their own destruction. They only put a weak cage around the monster. They never tame it. In fact it's a fundamentally unjust and destructive system at its heart. It doesn't need taming. It needs killing and replacing with something that puts democracy and the welfare of people at the centre of the system - not private tyranny and accumulation of capital. Those are the intrinsic values of capitalism. They shape all its incentives and processes. Which is why it can right now, be driving us to climate catastrophe like a train that is out of control. It's not the driver that is the problem. There is no driver. It's the train track we are on. Catastrophe is unavoidable under capitalism.

[@hilaryporter7841]

@@michaelrch I totally agree with you in regard to its omen for the effects of climate change. The corporations are the built in suicide bombers of capitalism because they are on a one way track to the destruction of life itself.

[@Danster82]

Tax law needs to be seriously simplified, the more complex the more room for interpretation until you get absurd situations like this. One obvious change to simplfy is that you can never pay a negative rate under any circumstance whatever. Furthermore it can never go under a certain rate say 20% regardless of ANY circumstance. These corporations should be paying the highest tax rate because of their obscene profits. And if they have already been doing stock buybacks (another thing that should be illegal) the profits have already been transferred to the major stockholders so good luck getting back now.

[@christopherboisvert6902]

Stock buyback are good for stockholder because they raise the stock price that you own. So it is kind of the same.

[@kushking949]

I hope any ceos of gas companies go slowly from covid

[@Danster82]

@@christopherboisvert6902 Yes it transfers the cash produced by the workers of that company to shareholders instead.

[@fishernz]

The legal and accounting professions will never let that happen. When they aren't laundering money for Russian oligarchs, they're halping fatcats dodge their tax obligations. The City of London's prosperity depends on this.

[@tuvaaq]

@@christopherboisvert6902 but it also artificially inflates the market value and puts more money in the pockets of the C suite folk, who then go and fire the bottom of the ladder just to sustain growth.

[@guakip567]

Richest getting very wealthy. Tax Office send me over 20 letters for £20 I owe Tax Office. Unbelievable. From now on have no pay any money at BP Petrol Station.

[@_____alyptic]

They'll only get richer after the windfall & inflation being the only ones who have enough to invest in business, they'll keep us poor forever it seems :/

[@vidcreatorlondon]

Sunak doing his job well. Now we need tax rebates for Goldman Sachs and then everything will be perfect.

[@gdwnet]

That's already happened: This is as a result of a cut to the banking surcharge, with chancellor Rishi Sunak's budget indicating that this figure is set to drop from its current rate of 8% to 3%. Therefore, banks will see the amount that they have to pay drop by £220 million next year, £830 million in 2023/24; £975 million in 2024/25; £995 million in 2025/26 and £1.02 billion in 2026/27 There have been numerous calls from the financial sector for there to be a cut to the tax, as they made the case that the current rate of tax could see the UK's banks fall behind its international rivals.

[@Starshine2007]

Public finance when they are in deficit and then the company pays massive dividends to private investors! Insane!!

[@Yo-ItsYo]

The private investors are pension funds. You realise these companies are propping up the pensions in this country? It's a bad situation.

[@gareth449]

always this talk about jobs , they would invest that money anyway because they need workers to get the oil out and make profits

[@HOLLASOUNDS]

It's an old trick to make them selfs looks good.

[@marvintpandroid2213]

Just look to see how many government ministers go and work in the oil sector.

[@charlottemarceau8062]

The problem isn't that we aren't aware of this, it's that we have no power to stop it. You can't vote against the interests of huge corporations. No political candidate with those interests can be allowed on the ballot.

[@_____alyptic]

Corbyn? 🤔

[@MrCarnivoure]

SHOCKING!!!! I knew it was bad but not that bad. MINUS 54% tax??? WTF is that??!! These companies cry not to take away their profits as they will not be able to invest??? Invest in what? Their bonuses and expensive luxury "business trips" to Bora Bora for sure 🤬

[@airingcupboard]

The UK mismanaged the oil fields. The state gets less from oil sales and the fields have been sold off abroad, which will make them difficult to shut down and decommission when we need to stop pumping the stuff. Will there be a point where oil profits will only be tax write downs for decommissioning? They need to shut this down so these companies put some of these profits to one side to save for that day.

[@Alison-LoveAndUnity]

The rebates and public money given to these terrible corporations could have gone to fitting every household in the UK with proper insulation and renewable energy supply (solar panels/heat pumps and national wind/solar/hydro sources)

[@Alison-LoveAndUnity]

We must push to Nationalise our energy supplies now. It is the only way to tackle the costs and price to consumers and mitigate the impending climate disaster. Private companies are never going to be part of the solution to either.

[@_____alyptic]

Wasn't there one that did have to get nationalized? Bulb or something? Had a pink logo. First the internet pledge, then railways, now this. Not to mention the 'Level-Up' report claiming credit for Brown's policy, Honestly it seems like Tories are just copying Labours homework now. 🙄 🙈

[@_____alyptic]

@Peanut Butter Not the same thing, being against privatisation of NHS isn't about "boat people" as you call them. The word doesn't work the same in that context. And the history of the UK creating refugee crisis' isn't Globalism either...

[@laurentdrozin812]

I was wondering why poor kids are left without food at school. Now I get it.

[@guff9567]

Goats at school? What you on about?

[@sonofsomerset1695]

Yup, stupid parents.

[@emm_arr]

@@guff9567 ^^putinbt

[@emm_arr]

@@sonofsomerset1695 No. The poor subsidise the rich.

[@emm_arr]

People on foodbanks subsidises this. Guess which party gets most of the donations here!

[@KingKong187911]

If Labour are smart and really fight for the working man and women who will suffer because the greed of the few, they will win back power.

[@YA-hm5zy]

Corbyn was the only Labour leader that was willing. Good luck with starmer, he's already assured big corporations not much will change, that's the only way for him to get the big media barons on side.

[@_____alyptic]

We need a tactical voting pact but not all anti-tory parties want to :/

[@kerryfry1857]

What's never mentioned.. These profits only go to a handful of people. The major shareholders. Maybe as low as 20 people. Meanwhile millions suffer. Fair?

[@Yo-ItsYo]

You realise the shareholders are pension funds right? The profits of all these companies is propping up pension funds. It's a bad situation. One we will never get out of if we don't change the pension system. Also another reason wages are kept low. Because all profits need to fund pensions. This country is f'ed.

[@kerryfry1857]

@@Yo-ItsYo You're correct. However some very wealthy individuals, are major shareholders also. But you make a valid point 👍

[@janepearce1978]

Make these big companies pay their fair share and stop subsidising them!

[@sonofsomerset1695]

Good thinking Jane, lets rely on Russia and China for our energy, what could go wrong?

[@mothiurNCL]

Why are we paying an increase in domestic fuel bills?

[@sonofsomerset1695]

Because of virtue signalling green policies that dont produce enough energy.

[@adrianthoroughgood1191]

Because demand has gone up around the world and under capitalism companies charge the highest price anyone is willing to pay.

[@_____alyptic]

@@sonofsomerset1695 Isn't there always something that Tories will blame? They want to appeal to companies and make the UK look extra-profitable. With all their fighting on State-Aid Subsidies & Tax Breaks, Singapore-On-Thames was always going to be a race to the bottom. It didn't help the fishing or farming industry, didn't help exporters, nor did it help workers ...'Level Playing Field' my a*se 🙄

[@msms7434]

I'd fact check that 200,000 jobs claim too if I were a journalist worth ten cents.

[@welikeburgers705]

Nothing will change until blood runs in the streets

[@KarrierBag]

it is disgusting...... these companies should be paying their fair share

[@paullark7241]

Yes the oil belongs to the sovereign people of Scotland. The oil company's should be paying the sovereign people of Scotland a dividend just like the Norwegian people get

[@spencerhowell9094]

This been going on for years no surprise .....

[@davidh.5204]

And yet, we shall all just accept this. There will be no public protests. There will be no government action. And the rich will get richer, whilst the rest of us will get poorer. WE are the fools for meekly accepting this.

[@MrGreekstatue]

This needs to stop. It's fucking disgusting.

[@AYVYN]

Imagine if the government made an economic faction of the military focused on high importance economic resources. Push out global oil companies. Take control of the rigs. The supply chains and military alone would create more jobs than are lost by oil companies. Supply side inflation would be controlled and the trade deficit would be decreased.

[@AYVYN]

The oil rig workers would not only get better healthcare by becoming military contractors, but also free education as we transition to other energy sources such as nuclear and solar.

[@squirrel9999]

Increasing the tax makes no difference if they can keep dodging them

[@jebbo-c1l]

well we can at least start by stopping to subsidise them

[@guakip567]

That means if you create work for people working for minimum wage the Richest don't have to pay Tax.

[@Lessons4Life]

Follow the money

[@mdalat6129]

Imagine my shocked face

[@jimjoerobinson]

Labour proposes a 10% rise in windfall tax - absolutely pathetic. Any decent labour government would re-nationalise the energy sector and embark on a program of rapid state-led decarbonisation. Neither party in the UK has any vision for the future.

[@neolithnomad]

Gas exports to Europe double, resulting in higher UK prices. Very much an Enron startegy.

[@simonclarke7309]

Supply exceeds demand but still high prices.

[@kenreeve6549]

What a shining example of self serving tory policy . Screw the public

[@goodpoint9521]

Some of the UK government mps have a nice bulge in they pocket after allowing these to make this kind of money

[@micheltibon6552]

I wonder how the many non-white, non-European peoples of former colonies thought and felt who found themselves oppressed or dispossessed by the “British” Empire. Scots were complicit too in empire building by these “British”.

[@rjkmusicmedia]

We were first to literally globally crusade against slavery. The Union flag sent fear down smugglers spines.

[@cyrilsquirrel2874]

or those oppressed by arabs or those oppressed by other tribes in africa,new zealand...and so on..almost every country in the world has attacked and oppressed and stolen resources from others...no one is exempt,,it is part of human nature..so your comment is rather irrelevant isnt it?

[@hadz001]

Imma choose to be ignorant. The petrol price at my local is 1.47 per litre. Too damn expensive, thats all.

[@mattsymonds9652]

Remember the time when Ed Milliband seemed like a poor choice. How far we have fallen.

[@_____alyptic]

Imagine if David Cameron never won...

[@jebbo-c1l]

in a just world you tax them to help the millions of househoulds in energy poverty

[@StephenRayner]

The oil belongs to everyone.

[@hydra66]

Last I heard, you had to pay for it

[@enfield7123]

🤔 can I stop paying taxes then and petrol costs go up 😱

[@guakip567]

Some people work with hard life because have to pay everything. This it's Capitalism. Poor work for Reach.

[@woodewoode]

Has c 4 news interviewed every single mum in Britain?

[@PeterJohnsonWales]

Just smiling ironically at the concept of any "pledge" from the Johnson government being worth the paper it's written on. And a pledge about the environment? Yeah, that's going to happen.

[@_____alyptic]

The paper is just worth less after being wasted :p

[@Skylark_Jones]

Did I hear the report say the big oil companies have been given a permanent tax rebate or aren't paying any tax at all?

[@samshep70]

Thanks Rupert Murdoch

[@MultiAndrew1971]

Force these giants of the oil world to pass the profits down the line. Make it cheaper for the consumers. After all if we didn’t use it then no profit for them

[@_____alyptic]

We pay the tax, they keep the drilling rights and the money... 🤔 What's all this for again?

[@simonclarke7309]

Portugal you know the minnow of the finance world applied a windfall tax on energy companies.

[@stephenhathaway269]

Shock horror, surely not ...

[@sonofsomerset1695]

Yeah, companies like to make profits, who would have guessed!?

[@emm_arr]

@@sonofsomerset1695 Shitpost

[@stephenhathaway269]

@@sonofsomerset1695I would like to have paid zero tax on my business profits. How do you rate my chances as a sole trader next tax return?

[@AditiNath1234]

Great👍👍

[@kylerittenhouse6521]

The YB BETTER Song is here kzbin.info/www/bejne/rGaZioBsYrpgfrc

[@cjytispro7349]

Then u buy fuel you pay tax this is good for government

[@barrymurphy3175]

Every Conservative mp needs to be made to declare shares in oil companies, theses tax breaks when profits are at all time highs and forced loans to the general public... there is maybe an obvious reason? maybe?

[@_____alyptic]

Funny you should mention that, is it in regards to the questioning of Ian Hislop recently?

[@kisi5209]

Time and again, rich get richer. Those that own shares are the rich. Oh, but it will affect pensions, well yes, but if your pension is peanuts then it'll make stuff all difference. Oh, but we support jobs.. if you didn't do it another company would. 1 Amazon paying no tax or 100 smaller companies paying full tax. Just because you are bigger shouldn't mean you pay proportionally less tax..

[@BM-lw6gn]

This is why I help people claim benefits and to the max. YET so many feel bad claiming help with rent or ESA. Angers me

[@richardcowley4087]

80% of the cost of fuel is taxes

[@ricardosmythe2548]

Surley if there operating in the UKs EEZ and profiting from the UKs resources they should be treated like any other business

[@gb1984yt]

Utilities and energy should be nationally owned,like the railways and the grid

[@Ineedahandle75]

If they are making such massive surplus profits, how can the price increases possibly be justified?

[@lameiraangelo]

What? Am I delusional? I'm hearing what I just heard?

[@ayoolukoga9829]

And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine. Revelation 6:5‭-‬6

[@ayoolukoga9829]

@@_____alyptic I'm Sure there is Plenty, But this One Comes to Mind: For ye suffer, if a man bring you into bondage, if a man devour you, if a man take of you, if a man exalt himself, if a man smite you on the face. 2 Corinthians 11:20

[@patrickhall4787]

This is why Royal Dutch Shell has left the Netherlands for the UK. To avoid tax.

[@ededdynova]

Public are the only people paying tax to hmrc when buying petrol and diesel

[@davidwalsh6608]

This article is very misleading. 1. Oil was discovered in the north sea in the 60s and 70s. The Government agreed that the oils companies would pay up front for the infrastructure to recover the oil, but taxes would only be paid once these costs had been recovered, they were not recovered until the early 80s and that when the tax income started flowing. 2. The next misleading thing is you discuss tax but which one Petroleum Revenue tax is raised on every barrel landed regardless of whether the company makes a profit, VAT is levied on the Petrol made from the oil regardless of whether a profit is made, then corporation taxes are levied on profits made after dedcuting the rig expense and PRT. Your article is made on the corporation tax profits, whilst ignoring the billions paid by the oil companies in PRT and VAT this is deliberately misleading. What is also misleading is that it is not understood that the North sea oil is pumped ashore using shared facilities. The charging of taxes PRT and VAT regardless of profits made resulted in operational rigs being closed down, whilst these rigs were making billions in PRT and VAT for the government and were only unprofitable due to the various tax levies. This also triggered tax losses because as corporate taxes were charged on corporate profits these profits ended when the rig was closed and decommisioning the rig was a taxable expense to be set off as against the taxes paid on the rig when it was operational. In addition as the pipework to bring the oil onshore was shared when a rig closed the total expense of the shared pipework was shared between fewer rigs making more rigs unprofitable and closing them down too. This resulted in 2017 that more taxes were refunded to oil companies due to rig closure than received on oil pumped. This problem was caused by government greed demanding money on oil pumped regardless of a profit being made. If changes were not made it could have resulted in the whole of the North Sea Oil business being closed.

[@DivineLove247]

big Copmanies pay ZERO or 1 or 2 % Tax,...whilst average Workers in UK pay over 30% Tax. How is this Fair?

[@MrBoggins1234]

Way more than 30%, even on basic rate income tax and national insurance There's Council Tax, Vehicle Excise Duty, VAT at upto 20% on most things we buy including energy and now import surcharges on purchases from our neighbours in Europe. I bet BP pay huge sums in employers national insurance for a relatively well paid workforce and think C4 are only talking about corporation tax albeit a big one. Still no justification. There time is coming to an end.

[@jamest5149]

‘Invest’.. the profit goes to the share holders, not investing.

[@MB-to5gl]

What is best for the planet is a liability to the fossil fuel companies.

[@_____alyptic]

I mean the giant split in Antarctica and the fact that the water isn't freezing over anymore immediately triggered the response to go there and mine/drill some more... It's caused by previous damage & it's not an opportunity, Dammit! (╯°□°）╯︵ ┻━┻

[@jimbobkuta8464]

Re Nationalise the energy market here in the UK . All the grief Gone . The UK will survive . . . . . . . . . . . .

[@_____alyptic]

5th richest in the world, others have been able to do more for their citizens 🤔

[@jimbobkuta8464]

@@_____alyptic 5th richest ,or not,the economy is open to all profiteers , it is about time the people of the UK get the deal they deserve ,Nationlise and pay less and not by where you live here in the UK . Other than that , what would you do,pay more or vote to Nationlise. That is if you are a UK resident ...

[@_____alyptic]

@@jimbobkuta8464 I'm just angry they used up what little we had, and got paid to take the profits elsewhere. A lot of other ways to get jobs from it like the public one you mentioned, but surely 5th richest wouldn't be that desperate for a company to do anything here

[@jimbobkuta8464]

@@_____alyptic I feel here in the UK that politics and people power would , if prices keep rising in the energy market eventually decide to Nationlise all energy markets , to many profiteers in todays market , buyers selling at 4 x profit to the next supplier , who in turn have to pass it on to the consumer . Six million , a rough estimate here in the UK will be the first to suffer fuel poverty and that is just the start .What is next .

[@emm_arr]

Brexit was done to help protect this sort of thing.

[@_____alyptic]

It's what made the gov want to encourage companies to stay, via bigger taxbreaks and what did they call it? State-aid subsidies? Race to the bottom is what EU said would happen, since 2016

[@emm_arr]

@@_____alyptic Yup. Race to the bottom.

[@jasonwoods3711]

So on top of our normal energy bill we are also paying for the oil companies taxes too ... If ya cant beat them , walk away ! . ( make a rectangle box of wood 6ft long, 1 ft wide, 4ft high. In the lid make 30 holes 4mm diameter. Tape up all the holes. Fill the box with leaves in November. Seal the lid airtight. Wait 10wks. After aprox 10wks peel the tape off and wholla... your free heater which will provide enough heat to warm a 60ft by 60ft room to at least 15°c ) ( should last upto 6wks ) ( the less holes uncovered the greater the temperature) ... off grid living .. ya got to love it !!

[@shani70]

After declining North Sea oil reserves life BP is potentially lost its major contract and lost its profitability and financial goals may lead further redundancy regardless temporally high prices of oil in international market. Arbian oil is better in chemical composition and viscosity and have more marketability in international markets as per EIA consultancy assessments.

[@yetidodger6650]

it's almost like the tories are in the pocket of these mega rich companies?

[@teggsy2165]

Who owns the North sea if not the oil companies if they want the oil in the sea pay tax or something to the territorial owners.

[@chrish8764]

Well she stands there in a thousand pound jacket

[@cjstubejackofalltrade1551]

Fuel price going up

[@mirali6545]

Good . Assalamualikum Bosses

[@ededdynova]

They all just put their prices up as well as making limitless tax free profits

[@alanritchie8890]

I think the idea is that you buy BP shares in order to join the club.

[@flucazade]

Rishi people… I mean rich people and rich companies for the most part don't like paying taxes, it's nothing new sadly the governments seem to agree and then we wonder why the roads, infrastructure and standards are crumbling in the UK.

[@jonnyashe6551]

This is disgusting

[@wallacetf]

Surely just levy more tax in the north sea. What could the SNP do? Say 'we want to leave the UK and reduce tax on giant oil companies'? UK govt should take the moral highground before Nicola does.

[@superficialwannabe]

PLEASE DISCUSS THIS ON QUESTION TIME!! KEIR STARMER USE THIS TO QUESTION BORIS AND THOSE TORIES

[@jimfixer9589]

Government is the same, dont forget all those billions wasted on PPE and test & trace... who do you think got those contracts? Their buddies and family members of course....

[@Anti-Peaceforce]

Greedy.

[@pupsiuspupuliukas2394]

If they were honest they woukd pony up he money by donating to charities like foodbanks, homeless shelters. Or give everyone a break on their energy bills.

[@paulbettonpb]

That's way they are absolutely disgraceful but you wouldn't put the charge and you make a lot of money about people into debt profit well you should get bankrupt

[@michaelstapelberg7751]

its ok I am sure Mogg will profit!

[@SteinerZi]

Shameful