TaxCorporate TaxLandfill credits to be speeded up

Landfill credits to be speeded up

Steps are to be taken to speed up the rate at which tax credits raisedthrough the Landfill Tax are spent cleaning up the environment.

Link: Read about plastic bag tax

The Treasury said Customs and Excise and Entrust, the body responsible forregulating the scheme, will consider ways to improve the percentage offunds spent within two years of being committed to projects.

But, responding to criticism from MPS on the powerful Commons Public Accounts Committee, they insisted there were some large and complex schemes funded from the tax which take years to plan and execute.

The MPs were critical of the fact that over £120m remained unspent and urged the percentage committed within two years to be increased so as to deliver benefits in local areas more quickly.

The government is considering the future of the scheme, includingwidening the sanctions available to Entrust when environmental bodiesgiven support failed to meet obligations.–

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