HMRC has revised its technical note on the carbon emissions tax, first issued at Budget 2018, primarily to reflect postponement of the UK’s date for exiting the EU.
If the UK leaves without a deal on 12 April, the government would introduce the new carbon emissions tax from 15 April 2019. As announced at Budget 2018, the new tax would replace the UK’s participation in the EU ETS, while meeting existing carbon reduction targets, but would not apply to the aviation sector. There would be no requirement to register or make tax returns, as HMRC already holds the required information within its existing IT systems. If the tax goes ahead, the final detail will be subject to consultation during 2019.
HMRC has revised its technical note on the carbon emissions tax, first issued at Budget 2018, primarily to reflect postponement of the UK’s date for exiting the EU.
If the UK leaves without a deal on 12 April, the government would introduce the new carbon emissions tax from 15 April 2019. As announced at Budget 2018, the new tax would replace the UK’s participation in the EU ETS, while meeting existing carbon reduction targets, but would not apply to the aviation sector. There would be no requirement to register or make tax returns, as HMRC already holds the required information within its existing IT systems. If the tax goes ahead, the final detail will be subject to consultation during 2019.
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