AS2011: Reducing green levy will cost £75m
Reducing the Climate Change Levy will cost the government £75m over four years
Reducing the Climate Change Levy will cost the government £75m over four years
THE CHANCELLOR has unveiled further reductions to environmental levies for the most energy intensive businesses in his latest Autumn Statement.
Energy intensive businesses which previously received an 80% discount on the Climate Change Levy (CCL) will now see this increase to a 90% discount from April 2013.
Currently, every business must pay a levy on electricity used directly to its energy supplier. However, all companies which agree with the government to reduce energy consumption receive an 80% discount. The government has now increased that discount to 90%.
The Department for Energy and Climate Change (DECC) has spent the past few years incentivising businesses to make their operations environmentally friendly by discounting levies by 80% if they sign up to a climate change agreement.
The government estimates that the increased discount will cost £75m over four years to 2016/2017.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe EU could raise €35bn through environmental taxes in two years removing burden on employment taxes, study finds Read More...
View articleExploration businesses to pay less tax on their profits because capital expenditure relief will be significantly increased Read More...
View articleChanges to environmental levies creates further complexity but raises funds for government Read More...
View articleKPMG most carbon friendly of the Big Four according to carbon reduction commitment annual league table Read More...
View articleNew reporting requirements make environmental a financial necessity for large companies, but SMEs could see the issue reach them quicker than they rea...
View articleAutumn Statement will see the abolishment of CRC league table, a reduction of £25m year on year for three years and simplification next year Read More...
View articleGeorge Osborne is reportedly considering scrapping or significantly revising the CRC which forces companies to report and pay for energy-related emiss...
View articleConsumer Focus study says energy efficiency could drive economic growth and lift millions of people out of fuel poverty Read More...
View article