Windfall Tax

[JamesWales]

So here it is..

https://www.bbc.co.uk/news/live/uk-61591398

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

1 / Every household in the UK is to get an energy bill discount of £400

2/Those on the lowest incomes - around eight million people supported through welfare system - will receive one-off cost of living payment of £650 in two lump sums (first in July, I read..)

3/ Pensioners who receive winter fuel payment will receive a one-off payment of £300

4/ Six million people who receive disability allowance will get a payment of £150

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

[Lither_1927]

Re: Windfall Tax

So here it is..

https://www.bbc.co.uk/news/live/uk-61591398

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

1 / Every household in the UK is to get an energy bill discount of £400

2/Those on the lowest incomes - around eight million people supported through welfare system - will receive one-off cost of living payment of £650 in two lump sums (first in July, I read..)

3/ Pensioners who receive winter fuel payment will receive a one-off payment of £300

4/ Six million people who receive disability allowance will get a payment of £150

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

Do you know if all these payments are automatic or is there an element of a claims process?

[JamesWales]

Re: Windfall Tax

Do you know if all these payments are automatic or is there an element of a claims process?

I would imagine it's automatic. Any household on Universal Credit or other means tested benefits would get the £650 I guess. Likewise any pensioner already receiving said benefit would get it automatically.

[North Cardiff Blue]

Re: Windfall Tax

So here it is..

https://www.bbc.co.uk/news/live/uk-61591398

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

1 / Every household in the UK is to get an energy bill discount of £400

2/Those on the lowest incomes - around eight million people supported through welfare system - will receive one-off cost of living payment of £650 in two lump sums (first in July, I read..)

3/ Pensioners who receive winter fuel payment will receive a one-off payment of £300

4/ Six million people who receive disability allowance will get a payment of £150

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

Thats good and should help some of the people in the greatest need.

[JamesWales]

Re: Windfall Tax

Thats good and should help some of the people in the greatest need.

I think without it we really would have seen a devastating winter with people dying in their homes for fear of putting heating on.

As you said, this should help, perhaps alongside some other measures to use energy slightly less and to keep people warm.

[Pedro de la Rosa]

Re: Windfall Tax

Boris getting caught has it's positives then. Shame it took them this long to get here but it is something that will help.

[az city]

Re: Windfall Tax

So here it is..

https://www.bbc.co.uk/news/live/uk-61591398

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

1 / Every household in the UK is to get an energy bill discount of £400

2/Those on the lowest incomes - around eight million people supported through welfare system - will receive one-off cost of living payment of £650 in two lump sums (first in July, I read..)

3/ Pensioners who receive winter fuel payment will receive a one-off payment of £300

4/ Six million people who receive disability allowance will get a payment of £150

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

I'm in two minds on this one. Clearly lower income folks need help.

But helicopter money worries me because it has a direct link to inflation. At least it did here with the stimulus checks (cheques).

I think regulating suppliers to lower prices might have been worthy of consideration.

[life on mars]

Re: Windfall Tax

Let's hope that now everyone will get an energy refund this year as its no longer to be re paid, those who can afford it and dont realky need show a real social gesture and give the value to a charity or relative / friend/ neighbour . Mine is already promised to my children .

[Doucas]

Re: Windfall Tax

So here it is..

https://www.bbc.co.uk/news/live/uk-61591398

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

1 / Every household in the UK is to get an energy bill discount of £400

2/Those on the lowest incomes - around eight million people supported through welfare system - will receive one-off cost of living payment of £650 in two lump sums (first in July, I read..)

3/ Pensioners who receive winter fuel payment will receive a one-off payment of £300

4/ Six million people who receive disability allowance will get a payment of £150

There will be a temporary windfall tax on the profits of oil and gas companies at a rate of 25%

Anyone know if this includes the £200 loan or is something in addition to it.

[life on mars]

Re: Windfall Tax

This is an excellent help site .

A lot of folk don't always know what's out there as support and funded by government.

https://www.turn2us.org.uk/

[life on mars]

Re: Windfall Tax

Anyone know if this includes the £200 loan or is something in addition to it.

Think it's doubled and no longer a loan . Lot to digest.

Rishi Sunak could announce a cut of £400 on energy bills for every home under a new cost of living support plan, according to reports. The Chancellor is set to announce a new package of support today (Thursday) in the Commons, which is likely to include a discount on energy bills funded by windfall tax on oil and gas giants.

Sunak will scrap the previously announced £200 loan on energy bills and replace it with a grant that will not have to be paid back, The Times reported. This discount could possibly increase to as much as £400.

Hope this helps

[Lither_1927]

Re: Windfall Tax

I would imagine it's automatic. Any household on Universal Credit or other means tested benefits would get the £650 I guess. Likewise any pensioner already receiving said benefit would get it automatically.

Cheers wales

[Eric Cartman]

Re: Windfall Tax

Much needed and probably a pretty decent method of targeting support, although I'd question not means testing the 300 quid to pensioners as I think winter fuel allowance can be claimed by anybody over a certain age (might be wrong though)

[Eric Cartman]

Re: Windfall Tax

Think it's doubled and no longer a loan . Lot to digest.

Rishi Sunak could announce a cut of £400 on energy bills for every home under a new cost of living support plan, according to reports. The Chancellor is set to announce a new package of support today (Thursday) in the Commons, which is likely to include a discount on energy bills funded by windfall tax on oil and gas giants.

Sunak will scrap the previously announced £200 loan on energy bills and replace it with a grant that will not have to be paid back, The Times reported. This discount could possibly increase to as much as £400.

Hope this helps

As a single person household I do pretty well out of that. Maybe a bit too well, although next winter was going to be looking a bit dicey.

[life on mars]

Re: Windfall Tax

As a single person household I do pretty well out of that. Maybe a bit too well, although next winter was going to be looking a bit dicey.

And that's a very key question, it's such uncertain times some out of our control , the other fear 15 billion into the country could fuel inflation. Sometimes you can't win.

What's important that folk do fund thier bills with this and don't suffer from fuel poverty .

To be fair this is very big giveaway as its now a grant with no loan attached.

Hope you stay warm , do you know you can get single peoples discount on council tax and water bills.

Have a look at this https://www.turn2us.org.uk/

I like the fact they have automated it and removed form filling .

My only worry there is reports councils not delivering the rebates based on house bands very quickly.