Essar Oil UK agrees phased payment plan with UK tax authorities
Indian conglomerate Essar’s UK arm, Essar Oil UK, on Tuesday said it has entered into a new “time to pay” agreement with the UK’s tax authorities, aligned with the company’s revenues.
The company, which runs the Stanlow refinery at Ellesmere Port in Cheshire, north-west England, had hit some UK media headlines for overdue VAT payments, threatening the future of the refinery.
Essar had maintained that it was confident of reaching an agreement with the UK’s HM Revenue & Customs (HMRC).
Essar Oil (UK) Limited (EOUK) confirms it has entered into a new time to pay agreement with HM Revenue & Customs (HMRC). EOUK and HMRC have agreed a phased payment schedule, aligned with EOUK revenues, the company said in a statement.
