So it's Truss

[Nick]

Just bypass it, then board it up. Trouble is with you lot you keep believing you can vote for change.

I can assure you I vote for no change, and guess what? For the last 4 GE's I've got precisely what I wanted. Did you?

[Nick]

Unless you have via a typo provided inaccurate figures, the sum above is absolute peanuts when compared to their many billions in profits, much of it wholly unexpected

Last years tax would be for the year 2020 when the country was in lockdown, the roads were empty. Also oil companies put massive amounts of profit back into exploration of new wells and such. I, same as you don't know what level of tax they should be paying. 

[Sheepy]

But  Everest is easier to climb, than to bulldoze flat.

Just bypass it, then board it up. Trouble is with you lot you keep believing you can vote for change.

[srb7677]

BP paid $127 million in tax last year but you keep on getting your information from Comics.

Unless you have via a typo provided inaccurate figures, the sum above is absolute peanuts when compared to their many billions in profits, much of it wholly unexpected

[Nick]

What else did she say "of course some people don't pay tax"

That'll be some of the wealthiest then,all the little people do.

Whilst we are at it please explain why the poorest in society with prepay meters pay even more for their energy,how can that be fair?

They pay more because as a whole they can't be trusted to pay their bills, especially those in rental properties who have a habit of doing a midnight flit and leaving the landlord with a whopping bill. They pay extra for the extra infrastructure needed to administer the system. 

[Nick]

Written like a true novice in politics...

https://www.theguardian.com/business/2021/oct/30/shell-and-bp-paid-zero-tax-on-north-sea-gas-and-oil-for-three-years

No cooperation tax in three years and VAT is value added tax that we the public pay, not businesses who can claim it back. BP paid £120mn in taxes last year and that is everything from North Sea to petrol forecourts. A windfall tax could be worth as much as £40bn. Don't know how good you are at math but I hope it is better than your politics.

I'll guarantee you nobody in the U.K. ever paid any cooperation tax, and you call me a novice 😂
Businesses don't pay VAT do they not?
BP paid $127 million in tax last year but you keep on getting your information from Comics. 😂

[cromwell]

HMRC is getting a windfall tax automatically by VAT and corporation tax. If you take it via windfall you reduce the profit and therefore the tax collection.

What else did she say "of course some people don't pay tax"

That'll be some of the wealthiest then,all the little people do.

Whilst we are at it please explain why the poorest in society with prepay meters pay even more for their energy,how can that be fair?

[B0ycey]

The problem with a windfall tax is that you have to collect it. Which should take several years. And since the best accountants are employed by the power companies, it might come as a surprise to learn how little there is to collect.

Windfall taxes are fine for leftie losers who prefer low calorie spite to keeping the bills down, but overall it will be cheaper and quicker to float a few government loans

That said,I dunno about the other energy companies, but BP lost

The problem with every tax is you have to collect it under your logic! And a windfall tax has already been enacted which is 25% on announced profits. Seemed to work well enough before and in October you'll start getting you payments from your energy supplier. They even closed loopholes so they couldn't invest in windfarms and all that bollocks so the government knew EXACTLY what they were getting from North Sea Oil. What people never seem to understand is that the government can close loopholes when they need to and they did on that one. Makes you question why they don't do it more often... but deep down we all the the answer I guess. Mates before Serfs.

As for the bizarre miasma which seems to be spreading on this forum that a windfall tax is bad and that we should be happy for the huge profits of North Sea Oil and we should not tax it at all, all I can say is there are some hard-core Tories on here that can't even see the merits of Labours Cost of Living plan because Brexit is good so BoJo the Clown is also good and everything associated with him must be good as well including cooperation greed.

[Borchester]

Written like a true novice in politics...

https://www.theguardian.com/business/2021/oct/30/shell-and-bp-paid-zero-tax-on-north-sea-gas-and-oil-for-three-years

No cooperation tax in three years and VAT is value added tax that we the public pay, not businesses who can claim it back. BP paid £120mn in taxes last year and that is everything from North Sea to petrol forecourts. A windfall tax could be worth as much as £40bn. Don't know how good you are at math but I hope it is better than your politics.

The problem with a windfall tax is that you have to collect it. Which should take several years. And since the best accountants are employed by the power companies, it might come as a surprise to learn how little there is to collect.

Windfall taxes are fine for leftie losers who prefer low calorie spite to keeping the bills down, but overall it will be cheaper and quicker to float a few government loans

That said,I dunno about the other energy companies, but BP lost

[B0ycey]

HMRC is getting a windfall tax automatically by VAT and corporation tax. If you take it via windfall you reduce the profit and therefore the tax collection.

Written like a true novice in politics...

https://www.theguardian.com/business/2021/oct/30/shell-and-bp-paid-zero-tax-on-north-sea-gas-and-oil-for-three-years

No cooperation tax in three years and VAT is value added tax that we the public pay, not businesses who can claim it back. BP paid £120mn in taxes last year and that is everything from North Sea to petrol forecourts. A windfall tax could be worth as much as £40bn. Don't know how good you are at math but I hope it is better than your politics.

[Nick]

I still believe there should be a windfall tax,that Truss says it's ok that the wealthiest will by percentage receive the greatest benefit tells me all I need to know.

HMRC is getting a windfall tax automatically by VAT and corporation tax. If you take it via windfall you reduce the profit and therefore the tax collection. 

[Streetwalker]

I still believe there should be a windfall tax,that Truss says it's ok that the wealthiest will by percentage receive the greatest benefit tells me all I need to know.

The wealthiest by percentage always get the greatest benefit . If that were not so they wouldnt be the wealthiest 

[cromwell]

I still believe there should be a windfall tax,that Truss says it's ok that the wealthiest will by percentage receive the greatest benefit tells me all I need to know.

[B0ycey]

If rejecting labours tax everything that moves and 90% of anything that doesnt makes me a Tory then so be it .

Nothing about taxes, the mere fact you have been tooting Johnson and now Truss on here means you are a Tory.

It is clear who has the better plan. Trying to make out that Truss has a handle on this when she is borrowing £100bn on top of the other Covid loans which were nonsense when the cap could be lower with lower borrowing is a farce. Truss did something. Better than nothing, but not better than Labour. It is that simple.

[Streetwalker]

What you talking about? Under Labour the cap would be lower and borrowing would be LESS! It is fine that Truss has limited the October increase but it hasn't been halted and people were already complaining about their bills... which now will be increasing.

And no, a windfall tax isn't a sticky plaster. It is a solution UNTIL you have found alternative fuel sources or increased production of North Sea Oil, fracking whatever... or... heaven forbid, enact more green energy. A windfall tax would only be for this year and maybe next. If we can't find a substitute for Russian gas in two years then we never will. Also BP said they will invest in North Sea Oil whatever. They just threw away a ton of investment in Russia at a cheap price and now have nowhere else to invest in. Stop being a f**king Tory and acknowledge that on the cost of living crisis, Labour have a significantly better plan than the Conservatives.

If rejecting labours tax everything that moves and 90% of anything that doesnt makes me a Tory then so be it . The immediate issue is as you say the cost of living and bringing down energy bills is a big part of that . Business has welcomed the details of the energy plan commenting it would take pressure off inflation which will again save people money in the long term . Business especially retail and hospitality will have confidence to move forward knowing the rug wont be pulled from under them with excessive energy demands . 
And yes plans to be a net exporter of energy by 2040 seems a long way off but at least our kids wont be reliant on foriegn fuel in their old age .
If only they had thought of it earlier .