[News] Shell report record profits

[Arthur]

Great to see British companies doing so well.

Well done Shell and BP!

 

[zefarelly]

Great to see British companies doing so well.

Well done Shell and BP!

They may be registered British, but thats about it . .

the rest is about as British as Swansmann

 

[nicko31]

Important to remember the Tory government has managed to give the oil and gas industry £13.6bn in subsidies since 2015, they've been struggling

That said the £2B they got for flogging off the green investment bank would have helped

 

[dsr-burnley]

I doubt there's any point charging BP a windfall tax, because their losses in 2020 were $20bn and their profits in 2021 were $7bn, so they have plenty of losses to carry forward anyway. Tax them nothing or tax them 100%, makes no difference because 100% of nothing is still nothing.

 

[dsr-burnley]

Important to remember the Tory government has managed to give the oil and gas industry £13.6bn in subsidies since 2015, they've been struggling

That said the £2B they got for flogging off the green investment bank would have helped

£9.9m of that "subsidy" is by allowing them to offset expenses against income in determining profit.

https://paidtopollute.org.uk/news/14-billion-in-subsidies/

 

[Weststander]

Great to see British companies doing so well.

Well done Shell and BP!

And the Dutch, Shell is 50% a Dutch company.

 

[GrizzlingGammon]

It's worth noting that Shell is a publicly listed company which recently became UK tax resident, so these profits will be subject to UK corporation tax (less credits for prior-year losses and foreign taxes on the same income).

Any share of the profits distributed to UK resident directors / employees will be subject to PAYE and NI.

Any distribution of dividends will in the majority go towards pension funds, including perhaps yours and mine.

The money doesn't just disappear wholesale into the sweaty hands of some conniving despot...

If your dividend is under £2000, or you are still within your 2k limit, no tax

 

[beorhthelm]

£9.9bn of that "subsidy" is by allowing them to offset expenses against income in determining profit.

https://paidtopollute.org.uk/news/14-billion-in-subsidies/

(billion) otherwise known as costs. in newspeak normal accounting for costs of something disliked is a subsidy.

 

[schmunk]

And the Dutch, Shell is 50% a Dutch company.

Not any more - it removed its dual listing earlier this year and the TopCo is now 100% UK registered. Obviously they retain interests in many other countries, but any retained profits ultimately flow to the UK.