Statement Of Changes July 2025 . Russia must immediately stop this war and. The government has announced that the rate of the epl will increase to 38% from 1 november 2025, bringing the headline rate of tax on upstream oil and gas activities to 78%.
We condemn in the strongest possible terms russia’s horrific attacks on the ukrainian people, including on hospitals, on 8 july. Following chancellor rachel reeves’ statement to the house of commons on 29 july, we summarise the key takeaways and look ahead to what fiscal and accounting.
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