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Shell and BP paid zero tax on North Sea gas and oil for three years
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By *ackal1Couple
over a year ago
Manchester |
Interesting as they didn’t miss a dividend payment in any of that time.
So nice returns as a shareholder but no tax to pay towards the economy.
Still tax increases on their workers though so someone’s paying., just not those who should.
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By *ostafunMan
over a year ago
near ipswich |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks."
So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
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By *ony 2016Man
over a year ago
Huddersfield /derby cinemas |
"I wonder why The Guardian ran this story today, when Rueters were reporting back in July?
Anything happening in Glasgow this week?   "
. ,, ,, ,, if Rueters reported the story in July and it has taken until October for The Guardian to report it,does anyone know when it was reported by (a) sky news , ( b) BBC news (c) Daily Mail ,(d) GB news ( e) LBC (f) Mirror (g ) Sun ? |
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By *ebbie69Couple
over a year ago
milton keynes |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it. "
Does appear to be from a little while ago and related to clearing up and fixing damage so they still had to pay out. Hopefully their workers were paid for this activity |
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By *asyukMan
over a year ago
West London |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it. "
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? |
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"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? "
Tax relief and bailouts are a socialist construct to hide the fact that corporations that receive them are lose making and bankrupt. |
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By *ostafunMan
over a year ago
near ipswich |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? "
society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration. |
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By *asyukMan
over a year ago
West London |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration. "
I don't k ow. However did Germany and France manage? However, fine. The oil companies benefitted significantly too. Why should society subsidise the cleanup as it has to already pay for the fallout in health from pollution and climate change? |
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By *asyukMan
over a year ago
West London |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside?
Tax relief and bailouts are a socialist construct to hide the fact that corporations that receive them are lose making and bankrupt. "
A "socialist" construct? "Free market" governments use them far more actively to "attract" business though, don't they? |
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By *ostafunMan
over a year ago
near ipswich |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration.
I don't k ow. However did Germany and France manage? However, fine. The oil companies benefitted significantly too. Why should society subsidise the cleanup as it has to already pay for the fallout in health from pollution and climate change?"
Well germany got theirs from Russia and france from Norway and Holland which by the way are giving tax incentives to increase investment in oil and gas. 
Have you never used oil and gas causing this pollution and climate change if so i agree you shouldnt pay for it.We are all paying for new regulations brought in by the green agenda and none of were responsible for the pollution in the 1800,s caused during the industrial revolution thats life shit happens. |
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"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration.
I don't k ow. However did Germany and France manage? However, fine. The oil companies benefitted significantly too. Why should society subsidise the cleanup as it has to already pay for the fallout in health from pollution and climate change?Well germany got theirs from Russia and france from Norway and Holland which by the way are giving tax incentives to increase investment in oil and gas.
Have you never used oil and gas causing this pollution and climate change if so i agree you shouldnt pay for it.We are all paying for new regulations brought in by the green agenda and none of were responsible for the pollution in the 1800,s caused during the industrial revolution thats life shit happens. "
I'm sure your kinds will be over the moon at your Pontus Pilot tribute act. |
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By *ostafunMan
over a year ago
near ipswich |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration.
I don't k ow. However did Germany and France manage? However, fine. The oil companies benefitted significantly too. Why should society subsidise the cleanup as it has to already pay for the fallout in health from pollution and climate change?Well germany got theirs from Russia and france from Norway and Holland which by the way are giving tax incentives to increase investment in oil and gas.
Have you never used oil and gas causing this pollution and climate change if so i agree you shouldnt pay for it.We are all paying for new regulations brought in by the green agenda and none of were responsible for the pollution in the 1800,s caused during the industrial revolution thats life shit happens.
I'm sure your kinds will be over the moon at your Pontus Pilot tribute act."
What do you mean by that and what is me and my kind? |
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By *ackal1Couple
over a year ago
Manchester |
U.K. based North Sea oil companies have paid considerably less than that of Norwegian oil companies in tax to the government. That’s why Norway has the second biggest sovereign wealth fund behind Saudi Arabia. The U.K. governments have repeatedly handed generous tax deals to the oil companies to be giving the impression of taking a substantial bit of cash but always with an eye for the shareholders. The scale of tax payments often looks good.
Norway knew it was an amazing additional bonus and handled it so much better. Our governments of both colours just pissed our windfall up the wall. It hid a lot of repeated government failure to run the economy. |
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By *ackal1Couple
over a year ago
Manchester |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration. "
Whilst oil and gas pollute . In the defence of the operations offshore those guys aren’t renowned for just dumping over the side of rigs. ( maybe in the early days). They knew the rigs had a lifespan and knew very well many years ago, regardless of the green planet issues, they would have to dismantle it all. They have had years to plan and cost so I don’t buy they need for any tax breaks now. Cut the dividends for a few years and that will help. BP and she’ll are investing heavily so can well afford to divert funds to clean their mess.
Factories don’t get help to dispose of redundant machinery so why oil companies? |
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By *ostafunMan
over a year ago
near ipswich |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration.
Whilst oil and gas pollute . In the defence of the operations offshore those guys aren’t renowned for just dumping over the side of rigs. ( maybe in the early days). They knew the rigs had a lifespan and knew very well many years ago, regardless of the green planet issues, they would have to dismantle it all. They have had years to plan and cost so I don’t buy they need for any tax breaks now. Cut the dividends for a few years and that will help. BP and she’ll are investing heavily so can well afford to divert funds to clean their mess.
Factories don’t get help to dispose of redundant machinery so why oil companies? "
Well we are all entitled to our opinions but cutting dividends impacts on pensions that a lot of companies rely on for a start.Yes oil companies have made a lot of money but they have also put a lot of tax into the country apart from the energy needed. A tax incentive to clean up after then is the cheapest way to go for old rigs and im pretty sure cleaning up is now included as part of the leases. |
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By *ercuryMan
over a year ago
Grantham |
I think that I read somewhere, that BP and Shell have contributed some £375 billion to the UK Exchequer.
The steep fall in the price of oil from 2015, would have led to a reduction in corparation tax receipts. |
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By *ostafunMan
over a year ago
near ipswich |
"I think that I read somewhere, that BP and Shell have contributed some £375 billion to the UK Exchequer.
The steep fall in the price of oil from 2015, would have led to a reduction in corparation tax receipts. "
Its not just about the tax they pay they created 10,000,s of well paid jobs and support industries over the years all paying tax an NI. |
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"Interesting as they didn’t miss a dividend payment in any of that time.
So nice returns as a shareholder but no tax to pay towards the economy.
Still tax increases on their workers though so someone’s paying., just not those who should.
"
its fucking sickening to be honest |
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By *ackal1Couple
over a year ago
Manchester |
"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it.
Why should a company receive an incentive for clearing up a predictable mess that it created?
Why should companies benefit from the upside but society pay for the downside? society has benefited though, where would we have been from the 60,s onward without north sea gas? and unfortunately cleaning up the world was not a priority then so not taken into concideration.
Whilst oil and gas pollute . In the defence of the operations offshore those guys aren’t renowned for just dumping over the side of rigs. ( maybe in the early days). They knew the rigs had a lifespan and knew very well many years ago, regardless of the green planet issues, they would have to dismantle it all. They have had years to plan and cost so I don’t buy they need for any tax breaks now. Cut the dividends for a few years and that will help. BP and she’ll are investing heavily so can well afford to divert funds to clean their mess.
Factories don’t get help to dispose of redundant machinery so why oil companies? Well we are all entitled to our opinions but cutting dividends impacts on pensions that a lot of companies rely on for a start.Yes oil companies have made a lot of money but they have also put a lot of tax into the country apart from the energy needed. A tax incentive to clean up after then is the cheapest way to go for old rigs and im pretty sure cleaning up is now included as part of the leases."
I agree on the pension point and BP “WAS” a considerable back bone of shares in the U.K. this Isn’t the case with global holdings now.
Pension funds account for 40% of wealth investment . The rest is private . BP are handing over £4.4 Billion in dividends this year and are buying back at least a billion worth of shares each year. They can afford to clean up the rigs. |
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By *ackal1Couple
over a year ago
Manchester |
"I think that I read somewhere, that BP and Shell have contributed some £375 billion to the UK Exchequer.
The steep fall in the price of oil from 2015, would have led to a reduction in corparation tax receipts. Its not just about the tax they pay they created 10,000,s of well paid jobs and support industries over the years all paying tax an NI."
I agree with all your points but the numbers should have been nearly double based on Norway’s tax regime . Wealth of the nation given away by all governments . It’s big numbers in tax so as I said looks impressive but it should have been more . It was wasted and the country was short changed by both the governments and vested interests .
The likes of Black rock and Vanguard make good money on the back of BP’s wealth generation. That should have been diverted to a national wealth which would have added to the oil companies investment and as you say well paid jobs.
Again our governments seem not fit and I’m not picking on Boris here I’m talking the last 50 years .
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"I think that I read somewhere, that BP and Shell have contributed some £375 billion to the UK Exchequer.
The steep fall in the price of oil from 2015, would have led to a reduction in corparation tax receipts. Its not just about the tax they pay they created 10,000,s of well paid jobs and support industries over the years all paying tax an NI.
I agree with all your points but the numbers should have been nearly double based on Norway’s tax regime . Wealth of the nation given away by all governments . It’s big numbers in tax so as I said looks impressive but it should have been more . It was wasted and the country was short changed by both the governments and vested interests .
The likes of Black rock and Vanguard make good money on the back of BP’s wealth generation. That should have been diverted to a national wealth which would have added to the oil companies investment and as you say well paid jobs.
Again our governments seem not fit and I’m not picking on Boris here I’m talking the last 50 years .
"
spot on mate but what can we do when we don’t have much of a choice when it comes to elections |
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By *ercuryMan
over a year ago
Grantham |
Reading deeper into tnis, the oil companies use Decommisioning Relief Deeds (DRDs) to pay for decommissioning oil and gas rigs. This is an agreed legal settlement between Goverment and the owning company.
This device allows a company, such as BP or RDS, the knowledge that they can invest and operate, knowing that the clean up costs are taken care of. |
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"Interesting as they didn’t miss a dividend payment in any of that time.
So nice returns as a shareholder but no tax to pay towards the economy.
Still tax increases on their workers though so someone’s paying., just not those who should.
"
Most of the people here who have personal pensions will find their investment funds include BP, Shell and the like. Anyone in that position who's uncomfortable with that fact is free to donate the dividends they've received from the companies to whoever they like. Do you know what though? They won't because it's far easier to talk the talk... |
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"Interesting as they didn’t miss a dividend payment in any of that time.
So nice returns as a shareholder but no tax to pay towards the economy.
Still tax increases on their workers though so someone’s paying., just not those who should.
Most of the people here who have personal pensions will find their investment funds include BP, Shell and the like. Anyone in that position who's uncomfortable with that fact is free to donate the dividends they've received from the companies to whoever they like. Do you know what though? They won't because it's far easier to talk the talk..."
Yep, through out time, people haven't changed.... |
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By *ackal1Couple
over a year ago
Manchester |
"Interesting as they didn’t miss a dividend payment in any of that time.
So nice returns as a shareholder but no tax to pay towards the economy.
Still tax increases on their workers though so someone’s paying., just not those who should.
Most of the people here who have personal pensions will find their investment funds include BP, Shell and the like. Anyone in that position who's uncomfortable with that fact is free to donate the dividends they've received from the companies to whoever they like. Do you know what though? They won't because it's far easier to talk the talk..."
But on the flip side just think how other company’s shares would increase if all refurbishment and decommissioning costs at there factories we’re taken care of. Money talks at government level and always will. VIP fast track to influence and power.
Unless people wake up and vote against their instinct to shake up the failed institution of Government in this country then expect to stay poorer that you should be. |
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By *asyukMan
over a year ago
West London |
"Interesting as they didn’t miss a dividend payment in any of that time.
So nice returns as a shareholder but no tax to pay towards the economy.
Still tax increases on their workers though so someone’s paying., just not those who should.
Most of the people here who have personal pensions will find their investment funds include BP, Shell and the like. Anyone in that position who's uncomfortable with that fact is free to donate the dividends they've received from the companies to whoever they like. Do you know what though? They won't because it's far easier to talk the talk..."
How does this effect the fact that the oil industry is massively subsidised compared to others?
Why should our independent shops not be subsidised to the same levels?
Why not our care workers?
Insurance and pension companies are starting to divest of fossil fuel companies now that the cozy relationships and harms are becoming apparent. Why should any industry not have to pay for the harms that they produce, especially if they are profitable? |
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"Yup seems legit. Why would they have to pay tax on that? Even better, they apparently were given huge tax breaks. So you dont think that they should clean up after the supplies have run out.They haven't paid because its a tax incentive to return the sea back to how they found it. "
I some how don't see that happening, do you? |
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