The UK government is introducing, via the Finance (No. 2) Bill 2022/23, the electricity generator levy – a 45% charge on exceptional receipts generated from the production of wholesale electricity. This levy will apply to companies, or groups of companies, which generate more than 50,000 MWh of electricity per year and will be effective from 1 January 2023 until 31 March 2028. The levy will apply to pro-rated profits for accounting periods between these dates and will be paid by a nominated responsible company in a group via the corporation tax system.
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The UK government is introducing, via the Finance (No. 2) Bill 2022/23, the electricity generator levy – a 45% charge on exceptional receipts generated from the production of wholesale electricity. This levy will apply to companies, or groups of companies, which generate more than 50,000 MWh of electricity per year and will be effective from 1 January 2023 until 31 March 2028. The levy will apply to pro-rated profits for accounting periods between these dates and will be paid by a nominated responsible company in a group via the corporation tax system.
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