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CRC energy efficiency scheme

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The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) Regulations, SI 2017/211, come into force on 31 March 2017, to set the price of allowances used in the scheme for the years 2017, 2018 and 2019.

The CRC (carbon reduction commitment) scheme is a mandatory UK-wide emissions trading scheme under which large public and private-sector organisations surrender a number of allowances at the end of each scheme year equal to their total CO2 emissions. Budget 2016 announced that the scheme is to be abolished following the 2018/19 compliance year.

Issue: 1345
Categories: News , Indirect taxes , VAT