Changes to VAT penalties and interest from 01 January 2023
Chancellor announces windfall tax on energy firms Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis.Mr Sunak said a ‘temporary, timely, and targeted’ 25% Energy Profits Levy would be introduced for oil and gas companies, reflecting their extraordinary profits.The levy is expected to…