Five key tax developments in 2010 affecting environmental taxes by Mark Schofield and Harry Manisty
Five key developments in 2010 affecting environmental taxes are as follows:
1. Carbon Reduction Commitment (CRC)
Registrations for the CRC which requires medium to large public and private UK organisations to buy permits to cover the carbon in their energy use were due by 30 September 2010. Pulling together the information and paperwork to meet this deadline was a tough ask for many with the process described as bureaucratic and confusing. There are still expected to be organisations that have failed to register despite stiff penalties of up to £45 000 potentially due. In the October Spending Review the plan to recycle all CRC revenues from the scheme to participants via a league table system based on efficiency performance was abandoned with the government deciding to keep the income instead. In...
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Five key tax developments in 2010 affecting environmental taxes by Mark Schofield and Harry Manisty
Five key developments in 2010 affecting environmental taxes are as follows:
1. Carbon Reduction Commitment (CRC)
Registrations for the CRC which requires medium to large public and private UK organisations to buy permits to cover the carbon in their energy use were due by 30 September 2010. Pulling together the information and paperwork to meet this deadline was a tough ask for many with the process described as bureaucratic and confusing. There are still expected to be organisations that have failed to register despite stiff penalties of up to £45 000 potentially due. In the October Spending Review the plan to recycle all CRC revenues from the scheme to participants via a league table system based on efficiency performance was abandoned with the government deciding to keep the income instead. In...
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