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Climate Change Levy
The Climate Change Levy (CCL) is a tax on energy delivered to non-domestic users in the United Kingdom. Scope and purpose Introduced on 1 April 2001 under the Finance Act 2000, it was forecast to cut annual emissions by 2.5 million tonnes by 2010, and forms part of the UK's Climate Change Programme. The levy applies to most energy users, with the notable exceptions of those in the domestic and transport sectors. Electricity from nuclear is taxed even though it causes no direct carbon emissions. Originally electricity generated from new renewables and approved cogeneration schemes was not taxed, but the July 2015 Budget removed this exemption from 1 August 2015, raising £450m/year. Rates From when it was introduced, the levy was frozen at 0.43p/kWh on electricity, 0.15p/kWh on coal and 0.15p/kWh on gas. A reduction of up to 90% from the levy may be gained by energy-intensive users provided they sign a Climate Change Agreement. Revenue from the levy was offset by a 0.3% e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Act 2000
The Finance Act 2000 (c 17) is an Act of Parliament, Act of the Parliament of the United Kingdom prescribing changes to excise, excise duties, Value Added Tax (United Kingdom), Value Added Tax, Income Tax, Corporation Tax, Stamp Duty and Capital Gains Tax#United Kingdom, Capital Gains Tax. It enacts the 2000 Budget speech made by Chancellor of the Exchequer Gordon Brown to the Parliament of the United Kingdom. In the UK, the Chancellor delivers an annual budget speech outlining changes in spending, tax and duty. The respective year's Finance Act is the mechanism to enact the changes. The rules governing the various taxation methods are contained within the various taxation acts: for instance, Capital Gains Tax legislation is contained within Taxation of Chargeable Gains Act 1992. The Finance Act details amendments to be made to each of these acts. Provisions The Climate Change Levy was introduced on 1 April 2001 under Part II of the Finance Act 2000.See Schedules 6 and 7 Refer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climate Change In The United Kingdom
Climate change in the United Kingdom is impacting the country's environment and human population in many ways. The country's climate is becoming warmer, with drier summers and wetter winters. The frequency and intensity of storms, floods, droughts and heatwaves is increasing, and sea level rise is impacting coastal areas. The United Kingdom (UK) is also a contributor to climate change, having emitted more greenhouse gas from the country per person than the world average. Climate change is having economic impacts on the UK and presents risks to human health and ecosystems. The government has committed to reducing emissions by 50% of 1990 levels by 2025 and to net zero by 2050. In 2020, the UK set a target of 68% reduction in emissions by 2030 in its commitments in the Paris Agreement. The country will phase-out coal by 2024. Parliament passed Acts related to climate change in 2006 and 2008, the latter representing the first time a government legally mandated a reduction in g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
Taxation in the United Kingdom may involve payments to at least three different levels of government: central government (HM Revenue & Customs), devolved governments and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2014–15, total government revenue was forecast to be £648 billion, or 37.7 per cent of GDP, with net taxes and National Insurance contributions standing at £606 billion. History A uniform Land tax, originally was introduced in England during the late 17th century, formed the main source of government revenue throughout the 18th century and the early 19th century.Stephen Dowell, ''History of Taxation and Taxes in England'' (Routledge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HMRC
, patch = , patchcaption = , logo = HM Revenue & Customs.svg , logocaption = , badge = , badgecaption = , flag = , flagcaption = , image_size = , commonname = , abbreviation = , motto = , formed = , preceding1 = Inland Revenue , preceding2 = HM Customs and Excise , dissolved = , superseding = , employees = 63,042 FTE , volunteers = , budget = (2018–2019) , country = United Kingdom , constitution1 = Commissioners for Revenue and Customs Act 2005 , speciality1 = customs , speciality2 = tax , headquarters = 100 Parliament Street, London, SW1A 2BQ , sworntype = , sworn = , unsworntype = , unsworn = , minister1name = Andrew Griffith MP , minister1pfo = Economic Secretary to the Treasury and mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centre For Tax Policy And Administration
The Centre for Tax Policy and Administration is part of the Secretariat of the Organisation for Economic Co-operation and Development in France. Pascal Saint-Amans serves as the director of the Centre. Among its initiative have been : * Base erosion and profit shifting (OECD project) * Guidance on Fiscal federalism * Greater Exchange of information between tax authorities * Criticism of transparency of tax havens such as Monaco and Panama Panama ( , ; es, link=no, Panamá ), officially the Republic of Panama ( es, República de Panamá), is a transcontinental country spanning the southern part of North America and the northern part of South America. It is bordered by Co ... * The Convention on Mutual Administrative Assistance in Tax Matters They released the report Harmful Tax Competition: An Emerging Global Issue [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renewables Obligation
The Renewables Obligation (RO) is designed to encourage generation of electricity from eligible renewable sources in the United Kingdom. It was introduced in England and Wales and in a different form (the Renewables Obligation (Scotland)) in Scotland in April 2002 and in Northern Ireland in April 2005, replacing the Non-Fossil Fuel Obligation which operated from 1990. The RO places an obligation on licensed electricity suppliers in the United Kingdom to source an increasing proportion of electricity from renewable sources, similar to a renewable portfolio standard. In 2010/11 it is 11.1% (4.0% in Northern Ireland). This figure was initially set at 3% for the period 2002/03 and under current political commitments will rise to 15.4% (6.3% in Northern Ireland) by the period 2015/16 and then it runs until 2037 (2033 in Northern Ireland). The extension of the scheme from 2027 to 2037 was declared on 1 April 2010 and is detailed in the National Renewable Energy Action Plan. Since its i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Use And Conservation In The United Kingdom
Energy in the United Kingdom came mostly from fossil fuels in 2021. Total World energy supply and consumption, energy consumption in the United Kingdom was 142.0millionTonne of oil equivalent, tonnes of oil equivalent (1,651TWh) in 2019. In 2014, the UK had an energy consumption ''per capita'' of 2.78tonnes of oil equivalent (32.3MWh) compared to a world average of 1.92tonnes of oil equivalent (22.3MWh). Demand for electricity in 2014 was 34.42Watt, GW on average (301.7TWh over the year) coming from a total electricity generation of 335.0TWh. Successive UK governments have outlined numerous commitments to reduce carbon dioxide emissions. One such announcement was the low-carbon economy, Low Carbon Transition Plan launched by the Brown ministry in July 2009, which aimed to generate 30% electricity from renewable sources, and 40% from low carbon content fuels by 2020. Notably, the UK is Wind power in the United Kingdom, one of the best sites in Europe for wind energy, and wind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Policy Of The United Kingdom
The energy policy of the United Kingdom refers to the United Kingdom's efforts towards reducing energy intensity, reducing energy poverty, and maintaining energy supply reliability. The United Kingdom has had success in this, though energy intensity remains high. There is an ambitious goal to reduce carbon dioxide emissions in future years, but it is unclear whether the programmes in place are sufficient to achieve this objective. Regarding energy self-sufficiency, UK policy does not address this issue, other than to concede historic energy security is currently ceasing to exist (due to the decline of North Sea oil production). The United Kingdom historically has a good policy record of encouraging public transport links with cities, despite encountering problems with high speed trains, which have the potential to reduce dramatically domestic and short-haul European flights. The policy does not, however, significantly encourage hybrid vehicle use or ethanol fuel use, options ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ecological Tax Reform
An environmental tax, ecotax (short for ecological taxation), or green tax is a tax levied on activities which are considered to be harmful to the environment and is intended to promote environmentally friendly activities via economic incentives. A notable example is carbon tax. Such a policy can complement or avert the need for regulatory (command and control) approaches. Often, an ecotax policy proposal may attempt to maintain overall tax revenue by proportionately reducing other taxes (e.g. taxes on human labor and renewable resources); such proposals are known as a green tax shift towards ecological taxation. Ecotaxes address the failure of free markets to consider environmental impacts. Ecotaxes are examples of Pigouvian taxes, which are ''taxes that attempt to make the private parties involved feel the social burden of their actions''. An example might be philosopher Thomas Pogge's proposed Global Resources Dividend. Taxes affected Examples of taxes which could be lowere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Carbon Trust
The Carbon Trust was developed and launched in 1999-2001 as part of the development of the Climate Change Levy (CCL), a tax on business energy use that still operates today. The Carbon Trust was originally funded by around £50m of tax revenue generated from the Levy to help businesses reduce energy costs and therefore offset the additional cost of paying the CCL. The establishment of the Carbon Trust was announced in the 2000 White Paper "Climate Change - the UK Programme" (Cmd 491 It was launched alongside the introduction of the CCL in March-April 2001. The Carbon Trust was conceived as a business-led, publicly funded organisation at arms length from the government. The early concept, design and governance were carried out in close consultation with business. Senior officials from the Devolved Administrations and the UK department (the Department of the Environment, Transport and the Regions) would sit on the Trust's Board, where non-business non-executive Directors were in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climate Change Programme
The United Kingdom's Climate Change Programme was launched in November 2000 by the British government in response to its commitment agreed at the 1992 United Nations Conference on Environment and Development (UNCED). The 2000 programme was updated in March 2006 following a review launched in September 2004. In 2008, the UK was the world's 9th greatest producer of man-made carbon emissions, producing around 1.8% of the global total generated from fossil fuels. Aim and progress The aims of the programme are not only to cut all greenhouse gas emissions by the agreed 12.5% from 1990 levels in the period 2008 to 2012 (the international Kyoto commitment), but to go beyond this by cutting carbon dioxide emissions by 20% from 1990 levels by 2010. When the original programme was published in 2000, it confirmed that UK emissions were already forecast to be around 15% lower by 2010. As of March 2006, government projections were in line with the official energy policy of the United Ki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Act 2002
The Finance Act 2002 (c.23) is an Act of the Parliament of the United Kingdom prescribing changes to excise duties, Value Added Tax, Income Tax, Corporation Tax and Capital Gains Tax. It enacts the 2002 Budget speech made by Chancellor of the Exchequer Gordon Brown to the Parliament of the United Kingdom. In the UK, the ''Chancellor'' delivers an annual Budget speech outlining changes in spending, tax and duty. The respective year's Finance Act is the mechanism to enact the changes. The rules governing the various taxation methods are contained within the various taxation acts. (For instance Capital Gains Tax Legislation is contained within Taxation of Chargeable Gains Act 1992. The Finance Act details amendments to be made to each one of these Acts.) Provisions The Climate Change Levy The Climate Change Levy (CCL) is a tax on energy delivered to non-domestic users in the United Kingdom. Scope and purpose Introduced on 1 April 2001 under the Finance Act 2000, it was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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