Cookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.
Accounting, Taxation and Business Advisers
Call us today: 0118 405 6000 (Local Rate)
or email us info@atbaccounting.co.uk
What size is your
business?
We know you love your business regardless of it's size, so let us offer you sound financial advice
Latest tax tips & news
Dec 2025
- Top earners see an increase in HMRC investigations
- Treasury dealt blow as thousands of EV drivers use tax loophole
- Many risk paying tax twice due to multiple HMRC letter demands
- Snail farms discovered in London offices in tax avoidance scheme
- December Questions and Answers
- December Key Dates
- Autumn Budget 2025
A new '10p tax' suggested to the Chancellor... by a billionaire
Newsletter issue – September 2025
John Caudwell, billionaire and Phones 4u founder, has urged Chancellor Rachel Reeves to introduce a 10p per litre tax on petrol and diesel. He claims this could raise £20 billion for the Treasury and help avoid other unpopular tax hikes. His rationale behind the proposal is that fuel prices have dropped from ~190p to ~140p per litre, creating what Caudwell sees as fiscal 'headroom' for taxation.
It is true that fuel is now cheaper in real terms than at any point in the past 20 years. Factors contributing to the drop include: a decade-long freeze on fuel duty, a 5p temporary cut introduced in 2022, falling global oil prices and a stronger Pound.
Caudwell argues this would be less damaging than taxing sectors like farming. He also acknowledges the proposal would be unpopular but insists it's a pragmatic solution to plug fiscal gaps without destabilising key industries.
