Carbon emissions tax

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Details of a proposed carbon emissions tax have been confirmed, but the measure will take effect only if the UK leaves the EU without an agreement. If implemented, it will affect permit holders of stationary installations currently covered by the EU Emissions Trading System (EU ETS), including power generators; certain large industrial premises and manufacturers, including food processing plants; certain public sector facilities; and those small emitters and hospitals that are subject to simplified reporting arrangements.

In a 'no deal' scenario, the UK would cease to participate in the EU ETS from exit day. These proposals would introduce a tax on carbon dioxide emissions (and other greenhouse gas emissions on a carbon equivalent basis) produced by UK stationary installations currently in the EU ETS. The new tax will be introduced from 1 April 2019, with the first tax period ending on 31 December 2019.

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Added By: Sue Taylor on 01st Nov 2018 - 14:09
Number of Views: 67
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