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Green and pleasant land? VAT and Natural Capital

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With the growing world population and the constant need for more housing, we must protect our ecosystems. Natural Capital is a framework for those elements of the living world that produce a value or benefit to humanity. The implications thereof are felt both by landowners and developers, whether this is in respect of carbon, nutrients, water, woodlands, or peatland. Credits or biodiversity units can be created, sold and purchased. What are the VAT implications? Basic principles should be followed, but it would be good for HMRC to update its guidance or publish new guidance to cover the plethora of new environmental credits.

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