1.2 The CIOT s Environmental Taxes Working Group has previously commented on the principles of environmental taxes.

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "1.2 The CIOT s Environmental Taxes Working Group has previously commented on the principles of environmental taxes."

Transcription

1 Reforming the business energy efficiency tax landscape HM Treasury consultation document September 2015 Response by the Chartered Institute of Taxation 1 Introduction 1.1 The Chartered Institute of Taxation (CIOT) presents its response to HM Treasury s Consultation Document on reforming the business energy efficiency tax landscape published on 28 September 2015 at The CIOT s Environmental Taxes Working Group has previously commented on the principles of environmental taxes. 2 Executive summary 2.1 We welcome the proposed simplification to reduce the administrative burden on business and to improve streamlining of business energy taxation and we take the view that environmental taxes can play a significant role in a modern tax system and in enabling the Government to meet its statutory obligations under the Climate Change Act However, it is fundamental that they are implemented with close attention to sound principles to ensure they are effective. Taxes which merely shift pollution elsewhere, or which raise revenue without leading to greener behaviour, are failing to do their job. 2.2 Put simply, green taxes should ideally be easy to avoid (by a change in behaviour) but hard to evade. They should aim to be self-consuming as the desired behavioural change is produced, rather than being merely revenue raising. 2.3 We believe it is necessary to have clear objectives of what an environmental tax is intended to do and that environmental tax policy should conform to

2 Adam Smith s four basic principles of taxation: Fairness, Certainty, Convenience and Minimising the Compliance Burden. 2.4 For environmental taxation to be fully effective in changing behaviour, it is important that the Government gives taxpayers confidence that measures will be in place for a long period. In order to make long-term investment commitments, businesses require certainty and stability. This is particularly the case with environmental tax as acting in a greener way often requires substantial up-front investment. 2.5 We are concerned that there is insufficient clarity around the direction of environmental tax policy. For this reason we call on the Government to put in place an Environmental Tax Framework, or road map, for the rest of the Parliament, along the lines of the Tax Framework for Business adopted in the last Parliament. We note that the Summer Budget 2015 did announce plans for a Business Tax Roadmap to be published by April 2016 and look forward to this addressing the long term policy on environmental taxation. Consultation questions 3 Question 1: Do you agree with the principle of moving away from the current system of overlapping policies towards a system where a single business/organisation faces one tax and one reporting scheme? Please provide evidence on level and types of benefits of an approach like this. 3.1 Direction of environmental tax policy The CIOT fully supports a review of the current environmental tax system and would welcome simplification, certainty and stability. However, we strongly believe that policymakers need to consider their objectives very carefully from the outset. Environmental taxes can make a difference, acting potentially as a more cost-efficient driver of behavioural change across all sectors but it is fundamental that they are implemented with close attention to sound principles to ensure they are effective. Taxes which merely shift pollution elsewhere, or which raise revenue without leading to greener behaviour, are failing to do their job. 3.2 The Climate Change Levy was introduced in April 2001 as an environmental tax, intended to change polluting behaviours and to assist in meeting the UK s obligations for reduced carbon emissions. The recent removal of Renewable Source Energy CCL exemption means that the tax is moving away from the environmental principles on which it was founded and becoming a revenue raising tool. Other measures introduced over recent years such as the capping of Carbon Price Support rates of CCL, the removal of CPS exemption for site-located combined heat and power plants, and the introduction of credit mechanisms for certain industry sectors for indirect energy costs arising from CPS and EUETS, all serve to cloud and confuse the issue over the direction and intent of carbon taxation. 3.3 We are concerned that there is insufficient clarity around the direction of environmental tax policy. For this reason we encourage the Government to put in place an Environmental Tax Framework, or road map, for the rest of the Parliament, along the lines of the Corporate Tax Road Map adopted in the last Parliament. 2

3 3.4 Principles of effective environmental taxation This consultation proposes to streamline and simplify the current tax system by replacing the CRC and CCL with a new energy consumption tax based on the CCL. 3.5 Establishing and maintaining an effective environmental tax policy presents challenges. There are some fundamental questions to answer at the outset: what is or should an environmental tax be; how do we monitor its success; and how should we deploy revenues raised from the imposition of the tax? 3.6 Previously, the Government has taken the view that only taxes that meet the following objectives are environmental taxes: 1. The tax must be explicitly linked to the government s environmental objectives. 2. The tax should be one that encourages environmentally positive behavioural change. 3. The tax is structured in relation to environmental outcomes so that the more polluting the behaviour, the greater the tax levied. 3.7 We support the Government s commitment to developing an effective framework that provides businesses with certainty and encourages business investment in energy efficiency and carbon saving. We are concerned about the variety of changes this industry has faced in recent years and the impact this is having on businesses ability to invest and confidence to plan longerterm in alternative energy sources. 4 Reporting 4.1 Question 2. Do you agree that mandatory reporting should remain as an important element of the landscape in driving the uptake of low carbon and energy efficiency measures? If not, why not? Question 3. Should such reports require board level sign-off and should reported data be made publically available? Please give your reasons. Question 4. Do you agree that government should develop a single reporting scheme requiring all ESOS participants (and potentially the public sector (see paragraphs ) to report regularly at board level? If so, what data should be included in such a report? Question 5. The government recognises the importance of ensuring market actors have access to transparent, reliable and comparable information to support financing and investment in energy efficiency and low carbon measures. How best can a streamlined report achieve this? To what extent does your response apply to other large companies (as defined in the Companies Act) that are not listed companies? 3

4 4.2 We support the Government s aim to reduce compliance time and costs where possible and to work with existing (and statutory) reporting requirements to ensure minimising duplication. 4.3 The UK already has a complex tax system and lengthy tax code which constitute a substantial bureaucratic burden for taxpayers, particularly small businesses. It is important that environmental tax measures do not unduly add to that burden. 5 Question 6. Do you agree that moving to a single tax would simplify the tax system for business? Should we abolish the CRC and move towards a new tax based on the CCL? Please give reasons. 5.1 We support the Government s intention to deliver a stable policy environment that is more effective in encouraging long term investment in energy efficiency and carbon saving. We believe it is essential to overcome the recent pattern of piecemeal changes that have led to uncertainty and a breakdown of confidence in long-term investment. 5.2 The proposal is to abolish the CRC and move the revenue raising element into a single business energy consumption tax based on the CCL. We pose the question: will the new single tax be an environmental tax? 5.3 If CCL is to be used as a template, it is worth exploring its flaws. Since its introduction CCL has been criticised because the rates are too low, and there are too many reliefs, to achieve its intended environmental goals. It appears to have been influenced by a range of political, social and practical concerns rather than just environmental objectives. For example, the exclusion of domestic consumption is seen as irrational from an environmental perspective. This arguably makes CCL more difficult to understand and administer. 5.4 It would be more logical from an environmental point of view if CCL focused purely on carbon emitting activities and relieved clean activities. 6 Question 7. How should a single tax be designed to improve its effectiveness in incentivising energy efficiency and carbon reduction? 6.1 We believe that accepted principles of good taxation should be applied to all new environmental tax measures. If adopted, we suggest any new consolidated tax and reporting scheme should conform to the four basic principles of taxation from Adam Smith s The Wealth of Nations : 1. Fairness - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities. 2. Certainty - The tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor, and to every other person. 4

5 3. Convenience - Every tax ought to be levied at the time, or in the manner, in which it is most likely to be convenient for the contributors to pay it. 4. Minimising the Compliance Burden - Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible over and above what it brings into the public treasury of the state. 6.2 The CIOT s Environmental Taxes Working Group has previously made more detailed comments on the principles of environmental taxation. 7 Question 8. Should all participants pay the same rates (before any incentives/reliefs are applied) or should the rates vary across different businesses? For example, do you think that smaller consumers and at risk Energy Intensive Industries (EIIs) should pay lower rates? 7.1 The Institute for Fiscal Studies has previously reported that the rate of CCL has not kept pace with inflation. Whilst CCL rate increases are now in line with this measure there is a question as to whether a higher rate of CCL would be more effective at combating climate change. 7.2 The current CCL is a tax on fuel consumption rather than emissions. There are some areas where the CCL treatment of fuel is inconsistent with the level of emissions associated with that fuel. This is worth raising to ensure any new tax deals attempts to remove such anomalies. For example: As domestic/charitable consumption is excluded from CCL there is no CCL incentive for these users to become more energy efficient or to switch to cleaner sources of fuel. According to the Central Office of National Statistics, domestic users contributed 14%of greenhouse gas emissions in There is a CCL exemption for gas burned in Northern Ireland but gas burned elsewhere in the UK is liable to CCL. As burning gas in Northern Ireland has the same environmental impact as burning gas in Great Britain there is no environmental reason for the difference in treatment. 7.3 The design of the current CCL regime appears to have been influenced by a range of political, social and practical concerns rather than just environmental objectives. This has led to tax outcomes that appear irrational from an environmental perspective, and arguably make CCL more difficult to understand and administer. CCL would be more logical from an environmental point of view if its pure focus was to tax emitting activities whilst relieving clean activities. This may mean that other measures (eg fuel allowances, planning regulations) would be required to tackle social/political concerns such as fuel poverty etc. 5

6 8 Question 9. Do we currently have the right balance between gas and electricity tax rates? What are the implications of rebalancing the tax rate ratio between electricity and gas? What is the right ratio between gas and electricity rates? 8.1 Carbon price support (CPS) is not mentioned in the consultation, albeit a specific CCL charge on fossil-fuelled electricity generation. Its carbon price impact would need to be taken into account when considering the appropriate relationship of taxation rates between gas and electricity. 9 Question 10. Do you believe that the CCA scheme (or any new scheme giving a discount on the CCL or on any new tax based on the model of the CCL) eligibility should only focus on industries needing protection from competitive disadvantage? If so, how should government determine which sectors are in need of protection? 9.1 We consider that the application of the CCA scheme, and indeed other reliefs built into carbon taxation, should follow the principles of environmental taxation set out above. It is recognised however that Government has to balance competing needs between such matters as decarbonisation and carbon leakage, energy affordability, energy security, tax revenue etc. 9.2 Bearing in mind the above we do consider that it may be appropriate to conduct a critical review of the CCA schemes in place, or similar replacements built into any new tax, regarding scope, numbers, and effectiveness. This may particularly address the need for greater simplicity in operation and eligibility. 9.3 The Energy Tax Directive already defines energy intensive businesses and its use could lead to additional sectors being able to benefit from a CCA relief. We do still consider that the overall environmental taxation principles should need to be carefully considered before concluding on any expansion. 10 Question 11. Do you believe that the CCA scheme (or new scheme) eligibility should focus only on providing protection to those EIIs exposed to international competition and at risk of carbon leakage? If so, how should the government assess which CCA sectors are at risk of carbon leakage? 10.1 In a global economy international competition cannot be ignored, and any taxation measures introduced that lead to a net overall global increase in emissions, through issues such as carbon leakage, should be avoided It is to be hoped that greater global recognition of the risks posed by climate change will lead to reduced risks of carbon leakage. The results of the forthcoming 2015 UN Climate Change Conference, which has the aim of creating a universal and binding agreement on carbon, may influence this and may need to be factored into the final recommendations of this consultation. 6

7 11 Question 12. Do you believe that the targets set by the current CCA scheme are effective at incentivising energy efficiency? Do you believe that the current CCA scheme is at least as effective, or more effective, at incentivising energy efficiency than if participants paid the full current rates of CCL? How could CCAs be improved? Are there alternative mechanisms that may be more effective? 11.1 Currently, energy intensive businesses that sign up to CCAs receive a reduction in their CCL bills, (90% electricity; 65% gas etc), provided they meet certain emissions reductions and/or energy efficiency targets The CCL reduction provides an incentive to businesses to make energy efficiency improvements which they might not otherwise make, however we wonder whether this intervention is required given the relatively low rates of CCL being already potentially ineffective at driving the desired changes in energy efficiency There are other problems associated with CCAs: for example, not every industry that uses high quantities of power benefits from a CCA. If the rate of CCL was higher than this in itself may encourage any type of business to make energy savings without the need for a complex system of agreements and certificates. Alternatively a CCA system could be maintained but with more stringent emissions targets and robust penalties for failure to help drive behavioural change. Of course, merely imposing a higher rate of CCL would be an extra cost to business and may have other political implications, and enhanced risks of carbon leakage, (see q10),so the Government may need to provide additional support to businesses in some other way. 12 Question 13. Do you agree that incentives could help drive additional investment in energy efficiency and carbon reduction? Please explain why you agree or disagree This response focusses on environmental tax issues and so no comment is made. 13 Question 14. What is the best mechanism to deliver incentives for investment in energy efficiency and carbon reduction (eg tax reliefs, supplier obligations, grants, funding based on competitive bidding)? Are different approaches needed for different types of business? If so, which approaches work for which business types? What approaches should be avoided? 13.1 In order to make long-term investment commitments, businesses require certainty and stability. This is particularly the case with environmental tax as acting in a greener way often requires substantial up-front investment The current picture is confused. Recent announcements do appear to have shifted the focus away from decarbonisation and towards revenue raising. Areas contributing to this view include not only the sudden and unexpected removal of CCL exemption for renewable source power but also the various measures, and potential actions, announced earlier in 2015 concerning restricting the Levy Control Framework cap and the desire to restrict the impact of regulatory measures on power costs. 7

8 13.3 It is interesting to note that in June 2015 the Committee on Climate Change published its 2015 progress report on reducing emissions and preparing for climate change. This acknowledged that initial targets for emissions reduction set under the Climate Change Act had been met and even exceeded but still forecast a shortfall in reaching emissions targets for the fourth carbon budget ( ). Accordingly it recommended action be taken to ensure that the pace of emissions reductions accelerates The Government response advised that in this Parliament the Government will come forward with options to address the shortfall in relation to the post framework, and that our new emissions reduction plan will be published towards the end of Any new business energy tax will impact on this plan and also ideally in an Environmental Tax Framework as previously called for by the CIOT. 14 Question 15. What impact would moving to a single tax have on the public sector and charities? 14.1 In principle all taxpayers would benefit from a single coherent climate tax providing it would be simpler to administer, understand and pay than the present range of disconnected taxes and financial obligations. The public sector and charities would not seem to differ from this The proposal that the new CCL model would exclude certain activities of a number of organisations from a price signal that drives energy and emissions savings because of the fact that charities are currently excluded from paying the existing CCL on 'non business use' of energy does have some merit. Continuing to exempt third sector providers of public interest services from climate taxes might be seen as morally good but this does raise questions of equity with public sector providers of similar services who are likely to be required to pay such taxes in full. 15 Question16. How should the merged tax be designed to improve its effectiveness in driving energy and carbon savings from the public sector and charities? 15.1 We do not see the answer to this question being materially different to that of the private/commercial sector. A single coherent climate tax based on the polluter pays principle would seem preferable to the current regime. 16 Question 17. Should a new reporting framework also require reporting by the public sector? 16.1 As with question 16, we believe the same principles apply to all taxpayers. Any reporting obligation is burdensome, therefore its impact should be kept to the absolute minimum required to ensure the objectives of the tax are met. 8

9 17 The Chartered Institute of Taxation The Chartered a. Institute of Taxation (CIOT) is the leading professional body in the United Kingdom concerned solely with taxation. The CIOT is an educational charity, promoting education and study of the administration and practice of taxation. One of our key aims is to work for a better, more efficient, tax system for all affected by it taxpayers, their advisers and the authorities. The CIOT s work covers all aspects of taxation, including direct and indirect taxes and duties. Through our Low Incomes Tax Reform Group (LITRG), the CIOT has a particular focus on improving the tax system, including tax credits and benefits, for the unrepresented taxpayer. The CIOT draws on our members experience in private practice, commerce and industry, government and academia to improve tax administration and propose and explain how tax policy objectives can most effectively be achieved. We also link to, and draw on, similar leading professional tax bodies in other countries. The CIOT s comments and recommendations on tax issues are made in line with our charitable objectives: we are politically neutral in our work. The CIOT s 17,500 members have the practising title of Chartered Tax Adviser and the designatory letters CTA, to represent the leading tax qualification. The Chartered Institute of Taxation 6 November

HMT Consultation Reforming the business energy efficiency tax landscape: Response from the Energy Intensive Users Group

HMT Consultation Reforming the business energy efficiency tax landscape: Response from the Energy Intensive Users Group HMT Consultation Reforming the business energy efficiency tax landscape: Response from the Energy Intensive Users Group General comments The Energy Intensive Users Group (EIUG) represents manufacturing

More information

REFORMING THE BUSINESS ENERGY EFFICIENCY TAX LANDSCAPE BRIEFING

REFORMING THE BUSINESS ENERGY EFFICIENCY TAX LANDSCAPE BRIEFING REFORMING THE BUSINESS ENERGY EFFICIENCY TAX LANDSCAPE BRIEFING CARBON ENERGY REPORTING SOFTWARE Carbon Footprints Environment Compliance Buildings Process Transport Renewables Web Reports Validation Measurement

More information

Reforming the business energy efficiency tax landscape

Reforming the business energy efficiency tax landscape Reforming the business energy efficiency tax landscape Consultation response from: Emission Trading Group (ETG) Contact details: John Craven, john.craven@etg.uk.com ETG welcomes this review of the business

More information

Reforming the business energy efficiency tax landscape

Reforming the business energy efficiency tax landscape Reforming the business energy efficiency tax landscape September 2015 Reforming the business energy efficiency tax landscape September 2015 Crown copyright 2015 This publication is licensed under the

More information

REA Response to HM Treasury Reforming the Business Energy Efficiency Tax Landscape

REA Response to HM Treasury Reforming the Business Energy Efficiency Tax Landscape REA Response to HM Treasury Reforming the Business Energy Efficiency Tax Landscape The Renewable Energy Association (REA) is pleased to submit this response to the above inquiry. The REA represents a wide

More information

Reforming the Business Energy Efficiency Tax Landscape

Reforming the Business Energy Efficiency Tax Landscape Reforming the Business Energy Efficiency Tax Landscape IEMA response to HMT / DECC consultation 9 th November 2015 The Institute of Environmental Management & Assessment (IEMA) is the professional home

More information

Consultation response: Reforming the business energy efficiency tax landscape. Policy paper

Consultation response: Reforming the business energy efficiency tax landscape. Policy paper Consultation response: Reforming the business energy efficiency tax landscape Samuela Bassi, Chris Duffy, Sam Fankhauser, Bob Ward, Dimitri Zenghelis, Policy paper November 2015 ESRC Centre for Climate

More information

THE UK CLIMATE CHANGE PROGRAMME AND EXAMPLES OF BEST PRACTICE. Gabrielle Edwards United Kingdom

THE UK CLIMATE CHANGE PROGRAMME AND EXAMPLES OF BEST PRACTICE. Gabrielle Edwards United Kingdom Workshop on Best Practices in Policies and Measures, 11 13 April 2000, Copenhagen THE UK CLIMATE CHANGE PROGRAMME AND EXAMPLES OF BEST PRACTICE Gabrielle Edwards United Kingdom Abstract: The UK published

More information

Simplifying the National Insurance Processes for the Self-Employed Response by the Chartered Institute of Taxation

Simplifying the National Insurance Processes for the Self-Employed Response by the Chartered Institute of Taxation Simplifying the National Insurance Processes for the Self-Employed Response by the Chartered Institute of Taxation 1. Introduction and Executive Summary 1.1 The Chartered Institute of Taxation (CIOT) is

More information

HM Treasury consultation: reforming the business energy efficiency tax landscape - Energy Institute response

HM Treasury consultation: reforming the business energy efficiency tax landscape - Energy Institute response HM Treasury consultation: reforming the business energy efficiency tax landscape - Energy Institute response The Energy Institute (EI) welcomes the opportunity to make the following submission to HM Treasury

More information

Overview of UK Carbon Pricing Policies

Overview of UK Carbon Pricing Policies Partnership for Market Readiness PA11 Overview of UK Carbon Pricing Policies Paul van Heyningen, Department of Energy & Climate Change 10 March 2015 UK approach to emissions reduction Set legally binding

More information

Simplification of the Tax and National Insurance Treatment of Termination Payments Response by the Chartered Institute of Taxation

Simplification of the Tax and National Insurance Treatment of Termination Payments Response by the Chartered Institute of Taxation Simplification of the Tax and National Insurance Treatment of Termination Payments Response by the Chartered Institute of Taxation 1 Introduction 1.1 The Chartered Institute of Taxation (CIOT) sets out

More information

Addressing Competitiveness in introducing ETR United Kingdom s climate change levy

Addressing Competitiveness in introducing ETR United Kingdom s climate change levy Low Carbon Green Growth Roadmap for Asia and the Pacific CASE STUDY Addressing Competitiveness in introducing ETR United Kingdom s climate change levy Key point The UK Government introduced an energy tax

More information

1 Introduction. 2 Overall comments on the draft legislation

1 Introduction. 2 Overall comments on the draft legislation Savings allowance and savings nil rate and deduction of tax at source Consultation on draft clauses 1 & 4 Finance Bill 2016 Response by the Chartered Institute of Taxation 1 Introduction 1.1 Draft clause

More information

Consultation: CFD Implementation in NI Strategic Issues Discussion Paper Date: 08/05/15 Contact: Andy McClenaghan Our reference number: 2259 PD20010

Consultation: CFD Implementation in NI Strategic Issues Discussion Paper Date: 08/05/15 Contact: Andy McClenaghan Our reference number: 2259 PD20010 Consultation: CFD Implementation in NI Strategic Issues Discussion Paper Date: 08/05/15 Contact: Andy McClenaghan Our reference number: 2259 PD20010 Introduction The Consumer Council welcomes the opportunity

More information

The Levy Control Framework

The Levy Control Framework Report by the Comptroller and Auditor General Department of Energy & Climate Change The Levy Control Framework HC 815 SESSION 2013-14 27 NOVEMBER 2013 4 Key facts The Levy Control Framework Key facts 2bn

More information

Review of the Energy Savings Scheme. Position Paper

Review of the Energy Savings Scheme. Position Paper Review of the Energy Savings Scheme Position Paper October 2015 Contents Executive summary... 3 Energy Savings Scheme Review Report package... 3 Expanding to gas... 3 Target, penalties and duration...

More information

UK Government proposals on energy tax changes

UK Government proposals on energy tax changes Main Tel: 01685 725000 Civic Centre, Castle Street, Merthyr Tydfil CF47 8AN www.merthyr.gov.uk CABINET - INFORMATION REPORT Date Written 21 October 2015 Report Author Mick Campbell Service Area Neighbourhood

More information

ESB Input to consultation by the Northern Ireland Authority for Utility Regulation (NIAUR) on the NI Energy Efficiency Levy

ESB Input to consultation by the Northern Ireland Authority for Utility Regulation (NIAUR) on the NI Energy Efficiency Levy Alison Farr Social and Environmental Branch Utility Regulator Queens House Queen Street Belfast BT1 6ER 24 November 2008 ESB Input to consultation by the Northern Ireland Authority for Utility Regulation

More information

In our member surveys, the following themes are repeatedly mentioned as concerns:

In our member surveys, the following themes are repeatedly mentioned as concerns: The Rt Hon George Osborne MP Chancellor of the Exchequer HM Treasury 1 Horse Guards Road London SW1A 2HQ 22 November 2013 Growth and Britain's Number One Manufacturing Exporter From the Chief Executive

More information

UK Indirect Tax Conference 2015 Environmental taxes

UK Indirect Tax Conference 2015 Environmental taxes UK Indirect Tax Conference 2015 Environmental taxes Matt Parkes Zoe Hawes Prem Mehta 11 November 2015 Agenda Why does effective management of environmental taxes matter? Policy updates News and developments:

More information

EU energy and climate policies beyond 2020

EU energy and climate policies beyond 2020 EU energy and climate policies beyond 2020 Policy recommendations EU s energy and climate change policies are in need of reform. They need to be consistent, simplified and set to drive European competitiveness.

More information

UK renewable energy an update

UK renewable energy an update UK renewable energy an update 30 October 2014 Robert Hull, Managing Director Renewable energy key challenges 1 2 3 Costs to Climate change: Risks to security consumers: decarbonising of supply: short affordability

More information

We are responding to the consultation entitled VAT: Mini One Stop Shop Consequential amendments to the VAT Regulations 1995 (SI 1995/2518).

We are responding to the consultation entitled VAT: Mini One Stop Shop Consequential amendments to the VAT Regulations 1995 (SI 1995/2518). Ref: ITX 1 September 2014 Andy Heywood HMRC, VAT Supply Policy Team, Indirect Tax Directorate, 3rd Floor, 100 Parliament Street, London, SW1A 2BQ. via e-mail: andrew.heywood@hmrc.gsi.gov.uk Dear Mr Heywood

More information

Employment Intermediaries and Tax Relief for Travel and Subsistence Response by the Chartered Institute of Taxation

Employment Intermediaries and Tax Relief for Travel and Subsistence Response by the Chartered Institute of Taxation Employment Intermediaries and Tax Relief for Travel and Subsistence Response by the Chartered Institute of Taxation 1 Introduction 1.1 The Chartered Institute of Taxation (CIOT) sets out below its response

More information

Carbon Emissions Trading and Carbon Taxes

Carbon Emissions Trading and Carbon Taxes Carbon Emissions Trading and Carbon Taxes EU Environmental Policy The challenge reaching towards a low carbon economy 1 This presentation covers Can carbon markets be part of the answer in controlling

More information

Improving access to R&D tax credits for small business Response by the Chartered Institute of Taxation

Improving access to R&D tax credits for small business Response by the Chartered Institute of Taxation Improving access to R&D tax credits for small business Response by the Chartered Institute of Taxation 1 Introduction 1.1 We refer to the consultation document published on 16 January 2015 on Improving

More information

Solving a taxing puzzle. making environmental taxes work for business

Solving a taxing puzzle. making environmental taxes work for business Solving a taxing puzzle making environmental taxes work for business 2 Contents Executive Summary 3 Environmental taxes are playing an increasingly prominent role in the UK 5 The existing landscape does

More information

STRENGTHENING THE INCENTIVE TO SAVE: A CONSULTATION ON PENSIONS TAX RELIEF

STRENGTHENING THE INCENTIVE TO SAVE: A CONSULTATION ON PENSIONS TAX RELIEF STRENGTHENING THE INCENTIVE TO SAVE: A CONSULTATION ON PENSIONS TAX RELIEF Response by the Association of Taxation Technicians 1 Introduction 1.1 The Association of Taxation Technicians (ATT) is pleased

More information

National Energy Action s Northern Ireland response to CFD Implementation in NI Strategic issues Discussion Paper

National Energy Action s Northern Ireland response to CFD Implementation in NI Strategic issues Discussion Paper National Energy Action s Northern Ireland response to CFD Implementation in NI Strategic issues Discussion Paper May 2015 National Energy Action Northern Ireland (NEA NI), the leading national fuel poverty

More information

Impact Assessment (IA)

Impact Assessment (IA) Title: Renewables Obligation Transition IA No: DECC0086 Lead department or agency: Department of Energy and Climate Change Other departments or agencies: Summary: Intervention and Options Total Net Present

More information

PENSIONS POLICY INSTITUTE. Tax relief for pension saving in the UK

PENSIONS POLICY INSTITUTE. Tax relief for pension saving in the UK Tax relief for pension saving in the UK This report is sponsored by Age UK, the Institute and Faculty of Actuaries, Partnership and the TUC. The PPI is grateful for the support of the following sponsors

More information

World Bank. International Review of Trading Schemes for Energy Saving, Carbon Reduction and Renewable Energy

World Bank. International Review of Trading Schemes for Energy Saving, Carbon Reduction and Renewable Energy International Review of Trading Schemes for Energy Saving, Carbon Reduction and Renewable Energy World Bank Mark Johnson mark.johnson@ricardo-aea.com July 2013 Project objectives Chinese Government is

More information

Tax policy making: a new approach

Tax policy making: a new approach Tax policy making: a new approach June 2010 Tax policy making: a new approach June 2010 Official versions of this document are printed on 100% recycled paper. When you have finished with it please recycle

More information

Consultation on freezing the student loan repayment threshold JULY 2015

Consultation on freezing the student loan repayment threshold JULY 2015 Consultation on freezing the student loan repayment threshold JULY 2015 Contents Introduction... 3 1. Why consider freezing the repayment threshold?... 3 2. How to respond... 8 3. Confidentiality and data

More information

Modernising Powers, Deterrents and Safeguards Payments, Repayments and Debt: Responses to Consultation and Proposals

Modernising Powers, Deterrents and Safeguards Payments, Repayments and Debt: Responses to Consultation and Proposals Modernising Powers, Deterrents and Safeguards Payments, Repayments and Debt: Responses to Consultation and Proposals Response by the Chartered Institute of Taxation 1. Introduction 1.1. The Chartered Institute

More information

Energy Policy & Regulation Briefing Note

Energy Policy & Regulation Briefing Note Creating a sporting habit for life UK Energy Policy and Regulation and what it means for the sports and leisure sector Introduction We have got used to the fact that energy costs will continue to increase.

More information

White Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose?

White Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose? White Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose? Dr. Xiaodong Wang, EASCS September 11, 2013 Structure of the Presentation Context: Chinese government s commitment

More information

Dairy Companies Association of New Zealand (DCANZ) Submission to Emissions Trading Scheme Review Select Committee

Dairy Companies Association of New Zealand (DCANZ) Submission to Emissions Trading Scheme Review Select Committee PO BOX 3413 Shortland street Auckland New Zealand ~ h ns. z7a szs7 Dairy Companies Association of New Zealand (DCANZ) Submission to Emissions Trading Scheme Review Select Committee FEBRUARY 2009 INTRODUCTION

More information

The BSA - Business Services Association. Simplifying the CRC Energy Efficiency Scheme

The BSA - Business Services Association. Simplifying the CRC Energy Efficiency Scheme The BSA - Business Services Association Simplifying the CRC Energy Efficiency Scheme Introduction 1. The BSA The Business Services Association represents service providers, and their advisors, delivering

More information

Business rates has become a barrier to entrepreneurship, investment and productivity growth for businesses of all sizes and needs urgent reform.

Business rates has become a barrier to entrepreneurship, investment and productivity growth for businesses of all sizes and needs urgent reform. A vision for a simpler, fairer, more competitive business rates system Policy briefing No 4 Business rates has become a barrier to entrepreneurship, investment and productivity growth for businesses of

More information

Business Advisory Forum. Review of Carbon Reduction and Energy Efficiency Measures Taskforce report prepared for COAG

Business Advisory Forum. Review of Carbon Reduction and Energy Efficiency Measures Taskforce report prepared for COAG Business Advisory Forum Review of Carbon Reduction and Energy Efficiency Measures Taskforce report prepared for COAG March 2013 Table of Contents 1. INTRODUCTION... 3 1.1 COAG requests and the Business

More information

Consultation on MCS equivalence for the Domestic Renewable Heat Incentive Scheme

Consultation on MCS equivalence for the Domestic Renewable Heat Incentive Scheme The Chartered Institute of Plumbing & Heating Engineering HEAD OFFICE: 64Station Lane Hornchurch Essex RM12 6NB Telephone: +44(0)1708 472791 Fax: +44(0)1708 448987 Email: info@ciphe.org.uk Website: www.ciphe.org.uk

More information

Department of Policy and Business Practices CARBON PRICING PRINCIPLES

Department of Policy and Business Practices CARBON PRICING PRINCIPLES Department of Policy and Business Practices CARBON PRICING PRINCIPLES Document No. 213/116 ABH June 2015 CARBON PRICING PRINCIPLES The anticipated Paris climate agreement will combine a broad range of

More information

Growing the Green Economy

Growing the Green Economy Growing the Green Economy Labour Green Economy Paper.indd 1 05/02/2016 17:44 Our Plan Establish a green infrastructure fund worth 1bn. We recognise the need to fund immediate action on climate change.

More information

Review of Section 481 Film Relief. Department of Finance Consultation Paper

Review of Section 481 Film Relief. Department of Finance Consultation Paper Review of Section 481 Film Relief Department of Finance Consultation Paper May 2012 Tax Policy Unit Department of Finance Government Buildings, Upper Merrion Street, Dublin 2 Ireland Tel: +353 1 6767571

More information

DESIGNING AN EMISSIONS STANDARD FOR AUSTRALIA

DESIGNING AN EMISSIONS STANDARD FOR AUSTRALIA 55 DESIGNING AN EMISSIONS STANDARD FOR AUSTRALIA 5 The Authority proposes a standard that would apply from 2018 and be designed with a simple set of features to promote environmental effectiveness, policy

More information

Norwegian position on the proposed EU framework for climate and energy policies towards 2030

Norwegian position on the proposed EU framework for climate and energy policies towards 2030 Norwegian position on the proposed EU framework for climate and energy policies towards 2030 The EU plays an important role as a global leader in climate policy and has a fundamental interest in strengthening

More information

Consultation on a disincorporation relief

Consultation on a disincorporation relief Consultation on a disincorporation relief 30 August 2012 Introduction We are pleased to have this opportunity to respond to the HM Treasury Consultation on a disincorporation relief published on 7 June

More information

Harmonisation of electricity generation transmission tariffs. A EURELECTRIC contribution to ACER s scoping exercise

Harmonisation of electricity generation transmission tariffs. A EURELECTRIC contribution to ACER s scoping exercise Harmonisation of electricity generation transmission tariffs A EURELECTRIC contribution to ACER s scoping exercise December 2015 EURELECTRIC is the voice of the electricity industry in Europe. We speak

More information

nt (Wales) Bill 1.1 1.2 how the devolution and 1.3 1.4 able to rely Y Pwyllgor Cyllid / Finance Committee FIN(4)-20-15 P4

nt (Wales) Bill 1.1 1.2 how the devolution and 1.3 1.4 able to rely Y Pwyllgor Cyllid / Finance Committee FIN(4)-20-15 P4 Y Pwyllgor Cyllid / Finance Committee FIN(4)-20-15 P4 Consultationn on an inquiry into thee Tax Collection and Managemen nt (Wales) Bill Response from the Low Incomes Tax Reform Group G (LITRG) 1 1.1 1.2

More information

The Future of Renewables. Stuart Pocock Chief Operating Officer

The Future of Renewables. Stuart Pocock Chief Operating Officer The Future of Renewables Stuart Pocock Chief Operating Officer Who we are The REA was established in 2001 as a not-for-profit trade association, representing British renewable energy producers and promoting

More information

Association of Accounting Technicians response to Strengthening the incentive to save: a consultation on pensions tax relief

Association of Accounting Technicians response to Strengthening the incentive to save: a consultation on pensions tax relief Association of Accounting Technicians response to Strengthening the incentive to save: a consultation on pensions tax relief 1 Association of Accounting Technicians response to Strengthening the incentive

More information

2. Executive Summary. Emissions Trading Systems in Europe and Elsewhere

2. Executive Summary. Emissions Trading Systems in Europe and Elsewhere 2. Executive Summary With the introduction of CO 2 emission constraints on power generators in the European Union, climate policy is starting to have notable effects on energy markets. This paper sheds

More information

carbon footprinting a guide for fleet managers

carbon footprinting a guide for fleet managers carbon footprinting a guide for fleet managers Introduction For some organisations, carbon footprinting is perceived to be about reducing emissions purely for environmental reasons. But it is primarily

More information

EXPLANATORY MEMORANDUM TO THE CONTRACTS FOR DIFFERENCE (ELECTRICITY SUPPLIER OBLIGATIONS) REGULATIONS 2014. 2014 No. [XXXX]

EXPLANATORY MEMORANDUM TO THE CONTRACTS FOR DIFFERENCE (ELECTRICITY SUPPLIER OBLIGATIONS) REGULATIONS 2014. 2014 No. [XXXX] EXPLANATORY MEMORANDUM TO THE CONTRACTS FOR DIFFERENCE (ELECTRICITY SUPPLIER OBLIGATIONS) REGULATIONS 2014 2014 No. [XXXX] 1. This explanatory memorandum has been prepared by the Department for Energy

More information

Decarbonising electricity generation. Policy paper

Decarbonising electricity generation. Policy paper Decarbonising electricity generation Samuela Bassi, Chris Duffy and James Rydge Policy paper April 2013 Centre for Climate Change Economics and Policy Grantham Research Institute on Climate Change and

More information

MEMORANDUM. TO: Greenpeace FROM: Point Carbon DATE: 9/10/09

MEMORANDUM. TO: Greenpeace FROM: Point Carbon DATE: 9/10/09 MEMORANDUM TO: Greenpeace FROM: Point Carbon DATE: 9/10/09 SUBJ: Waxman-Markey (ACES 2009) Project Report Findings: As a whole, Coal receives significant financial funding under the allowance allocation

More information

Association of Accounting Technicians response to Department for Business Innovation and Skills (BIS) consultation paper on De-regulatory changes for

Association of Accounting Technicians response to Department for Business Innovation and Skills (BIS) consultation paper on De-regulatory changes for Association of Accounting Technicians response to Department for Business Innovation and Skills (BIS) consultation paper on De-regulatory changes for Limited Liability Partnerships (LLPs) and Qualifying

More information

Western Australian Feed-In Tariff Discussion Paper

Western Australian Feed-In Tariff Discussion Paper Western Australian Feed-In Tariff Discussion Paper OVERVIEW In September 2008, the incoming State Government announced its intention to introduce a feed-in tariff as part of the Liberal Plan for Environmental

More information

Consultation: Electricity and Gas Retail Supply Price Controls 2017 (SPC 17) Date: 08/12/2015 Contact: Andy McClenaghan Our Reference: 2405 PD20010

Consultation: Electricity and Gas Retail Supply Price Controls 2017 (SPC 17) Date: 08/12/2015 Contact: Andy McClenaghan Our Reference: 2405 PD20010 Consultation: Electricity and Gas Retail Supply Price Controls 2017 (SPC 17) Date: 08/12/2015 Contact: Andy McClenaghan Our Reference: 2405 PD20010 The Consumer Council welcomes the opportunity to respond

More information

Estimated impacts of energy and climate change policies on energy prices and bills

Estimated impacts of energy and climate change policies on energy prices and bills Estimated impacts of energy and climate change on energy prices and bills July 2010 Estimated impacts of energy and climate change on energy prices and bills 2 Estimated impacts of energy and climate change

More information

Differentiated IP Regimes for Environmental & Climate Technologies. Keith Maskus ICCG ICARUS International Workshop Venice, May 20, 2011

Differentiated IP Regimes for Environmental & Climate Technologies. Keith Maskus ICCG ICARUS International Workshop Venice, May 20, 2011 Differentiated IP Regimes for Environmental & Climate Technologies Keith Maskus ICCG ICARUS International Workshop Venice, May 20, 2011 Background Critical needs for new mitigation and adaptation technologies.

More information

Impact Assessment (IA)

Impact Assessment (IA) Title: UKCS Environmental Regulations: Retrospective Fee Scheme Legislation IA No: DECC0190 Lead department or agency: Department of Energy and Climate Change (DECC) Other departments or agencies: None

More information

SPEECH BY MINISTER OF FINANCE MR NHLANHLA NENE. South Africa s tax system and the tax reform agenda for 2015 and beyond BER Conference

SPEECH BY MINISTER OF FINANCE MR NHLANHLA NENE. South Africa s tax system and the tax reform agenda for 2015 and beyond BER Conference SPEECH BY MINISTER OF FINANCE MR NHLANHLA NENE South Africa s tax system and the tax reform agenda for 2015 and beyond BER Conference VENUE: Balalaika Hotel, Sandton DATE: 12 June 2015 Good morning and

More information

The role of local, decentralised energy solutions is too often overlooked in the context of current EU policy priorities to increase energy supply

The role of local, decentralised energy solutions is too often overlooked in the context of current EU policy priorities to increase energy supply The role of local, decentralised energy solutions is too often overlooked in the context of current EU policy priorities to increase energy supply security while attaining climate change goals. This presentation

More information

COMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document

COMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document EUROPEAN COMMISSION Brussels, 22.6.2011 SEC(2011) 780 final COMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document DIRECTIVE OF THE EUROPEAN PARLIAMENT AND

More information

Wind and solar reducing consumer bills An investigation into the Merit Order Effect

Wind and solar reducing consumer bills An investigation into the Merit Order Effect Switch for Good Wind and solar reducing consumer bills An investigation into the Merit Order Effect Executive summary Concerns over the cost of renewable subsidy schemes have led to significant policy

More information

Retirement Advantage response to HM Treasury - Strengthening the incentive to save: a consultation on pension tax relief

Retirement Advantage response to HM Treasury - Strengthening the incentive to save: a consultation on pension tax relief Retirement Advantage response to HM Treasury - Strengthening the incentive to save: a consultation on pension tax relief Overview and Executive Summary It is clear later life in the UK has changed dramatically

More information

Finance Committee. The Scottish Rate of Income Tax. Submission from Alexander Reid

Finance Committee. The Scottish Rate of Income Tax. Submission from Alexander Reid 1 Finance Committee The Scottish Rate of Income Tax Submission from Alexander Reid Response In response to your request for proposal for Scottish Rate Of Income tax please take into consideration my comment.

More information

Introducing Gazprom Energy Stable, secure, reliable energy from one of the world s biggest names. With deals tailored around your needs, not ours.

Introducing Gazprom Energy Stable, secure, reliable energy from one of the world s biggest names. With deals tailored around your needs, not ours. Introducing Gazprom Energy Stable, secure, reliable energy from one of the world s biggest names. With deals tailored around your needs, not ours. About us Gazprom Energy customers receive a long lasting

More information

The UK Electricity Market Reform and the Capacity Market

The UK Electricity Market Reform and the Capacity Market The UK Electricity Market Reform and the Capacity Market Neil Bush, Head Energy Economist University Paris-Dauphine Tuesday 16 th April, 2013 Overview 1 Rationale for Electricity Market Reform 2 Why have

More information

Strengthening the incentive to save: a consultation on pensions tax relief. Response to the consultation document published on 8 July 2015

Strengthening the incentive to save: a consultation on pensions tax relief. Response to the consultation document published on 8 July 2015 Strengthening the incentive to save: a consultation on pensions tax relief Response to the consultation document published on 8 July 2015 Grant Thornton UK LLP (Grant Thornton) has considered the proposals

More information

Climate change policies and the UK business sector: Overview, impacts & suggestions for reform

Climate change policies and the UK business sector: Overview, impacts & suggestions for reform Climate change policies and the UK business sector: Overview, impacts & suggestions for reform Authors: Samuela Bassi, Antoine Dechezleprêtre & Sam Fankhauser Grantham Research Institute on Climate Change

More information

The UK Offshore Wind Experience

The UK Offshore Wind Experience The UK Offshore Wind Experience Tom Simchak Policy Advisor, Energy British Embassy, Washington EESI Briefing, 28 September 2015 UNCLASSIFIED The United Kingdom is The global market leader in offshore wind:

More information

14 TAX EXEMPTIONS AND REDUCTIONS

14 TAX EXEMPTIONS AND REDUCTIONS 14 TAX EXEMPTIONS AND REDUCTIONS Energy efficiency Renewable energy sources Water demand Construction materials Air pollution Social aspects 14.1 OVERVIEW OF THE INSTRUMENT 14.1.1 Alternative names Tax

More information

Electricity Market Reform: Proposals for Implementation

Electricity Market Reform: Proposals for Implementation EMR Programme Team Department of Energy & Climate Change 4 th Floor Area D 3 Whitehall Place London SW1A 2AW 23 rd December 2013 Dear Sirs, Electricity Market Reform: Proposals for Implementation I am

More information

EMPLOYMENT INTERMEDIARIES: TEMPORARY WORKERS RELIEF FOR TRAVEL AND SUBSISTENCE EXPENSES

EMPLOYMENT INTERMEDIARIES: TEMPORARY WORKERS RELIEF FOR TRAVEL AND SUBSISTENCE EXPENSES EMPLOYMENT INTERMEDIARIES: TEMPORARY WORKERS RELIEF FOR TRAVEL AND SUBSISTENCE EXPENSES Response by the Association of Taxation Technicians 1 Introduction 1.1 The Association of Taxation Technicians (ATT)

More information

REGULATIONS. 5.6.2009 EN Official Journal of the European Union L 140/1

REGULATIONS. 5.6.2009 EN Official Journal of the European Union L 140/1 5.6.2009 EN Official Journal of the European Union L 140/1 I (Acts adopted under the EC Treaty/Euratom Treaty whose publication is obligatory) REGULATIONS REGULATION (EC) No 443/2009 OF THE EUROPEAN PARLIAMENT

More information

Save time and money and avoid being stumped, register your clubs details with

Save time and money and avoid being stumped, register your clubs details with with energy contracts and pay less in future? BusinessofEnergy Direct, today! Savespending time and and on avoid being Is your club too money much money electricity with Business Energy today! Has an energy

More information

The Case for Renewables in UK Business

The Case for Renewables in UK Business The Case for Renewables in UK Business New incentives, energy market trends and building regulations have transformed the returns available to UK businesses from generating their own renewable energy Between

More information

2013 PENSIONS BILL EVIDENCE FROM THE ASSOCIATION OF CONSULTING ACTUARIES TO THE PUBLIC BILL COMMITTEE

2013 PENSIONS BILL EVIDENCE FROM THE ASSOCIATION OF CONSULTING ACTUARIES TO THE PUBLIC BILL COMMITTEE 1. Introduction 2013 PENSIONS BILL EVIDENCE FROM THE ASSOCIATION OF CONSULTING ACTUARIES TO THE PUBLIC BILL COMMITTEE 1.1 The Association of Consulting Actuaries (ACA) welcomes the key measure in the 2013

More information

Saving energy, growing jobs

Saving energy, growing jobs Saving energy, growing jobs Victoria s energy efficiency and productivity statement June 2015 Contents Minister s foreword 1 Why energy efficiency matters for Victorians 2 Our plan for energy efficiency

More information

IMPLEMENTING THE RESTRICTION OF PENSIONS TAX RELIEF: NAPF SUBMISSION TO THE HMT/HMRC CONSULTATION

IMPLEMENTING THE RESTRICTION OF PENSIONS TAX RELIEF: NAPF SUBMISSION TO THE HMT/HMRC CONSULTATION IMPLEMENTING THE RESTRICTION OF PENSIONS TAX RELIEF: NAPF SUBMISSION TO THE HMT/HMRC CONSULTATION Executive Summary The NAPF welcomes the Coalition Government s decision to adopt a tax regime based principally

More information

sustainable gains in energy policy. While the report addresses energy policies comprehensively, the following sections highlight these three topics.

sustainable gains in energy policy. While the report addresses energy policies comprehensively, the following sections highlight these three topics. EXECUTIVE SUMMARY 01 A small, somewhat isolated country, Finland takes a balanced view of its energy policy, taking advantage of its situation wherever possible. Where it can leverage its location and

More information

This seeks to define Contracts for Difference (CfDs) and their relevance to energy related development in Copeland.

This seeks to define Contracts for Difference (CfDs) and their relevance to energy related development in Copeland. Contracts for Difference and Electricity Market Reform LEAD OFFICER: REPORT AUTHOR: John Groves Denice Gallen Summary and Recommendation: This seeks to define Contracts for Difference (CfDs) and their

More information

Simplification of the Tax and National Insurance Treatment of Termination Payments

Simplification of the Tax and National Insurance Treatment of Termination Payments Simplification of the Tax and National Insurance Treatment of Termination Payments Response to the HM Revenue & Customs and HM Treasury consultation October 2015 Introduction 1. The Society is the professional

More information

Business bills for both electricity and gas are made up of two main parts - Non - Energy Costs

Business bills for both electricity and gas are made up of two main parts - Non - Energy Costs Business bills for both electricity and gas are made up of two main parts - Non - Energy Costs Non-energy costs pay for running the UK s gas and electricity networks and comprise a variety of obligations,

More information

SUBMISSION FROM AA IRELAND ON THE COMBINED SUBJECTS OF: Motor Tax Rebalancing to take account of CO2 Emissions

SUBMISSION FROM AA IRELAND ON THE COMBINED SUBJECTS OF: Motor Tax Rebalancing to take account of CO2 Emissions March 2007 SUBMISSION FROM AA IRELAND ON THE COMBINED SUBJECTS OF: Motor Tax Rebalancing to take account of CO2 & Changes to Vehicle Registration Tax to take account of CO2 AA Ireland is the country s

More information

Ofgem Project Discovery. ClientEarth consultation response. Project Discovery should evaluate demand side policy responses

Ofgem Project Discovery. ClientEarth consultation response. Project Discovery should evaluate demand side policy responses Ofgem Project Discovery ClientEarth consultation response Project Discovery should evaluate demand side policy responses 1. ClientEarth is a non-profit environmental law, science and policy organisation

More information

IMPROVING ACCESS TO R&D TAX CREDITS FOR SMALL BUSINESS

IMPROVING ACCESS TO R&D TAX CREDITS FOR SMALL BUSINESS IMPROVING ACCESS TO R&D TAX CREDITS FOR SMALL BUSINESS Response by the Association of Taxation Technicians 1 Introduction 1.1 The Association of Taxation Technicians (ATT) is pleased to have the opportunity

More information

Electricity Market Reform: Amendment to Contracts for Difference (Definition of Eligible Generator) Regulations

Electricity Market Reform: Amendment to Contracts for Difference (Definition of Eligible Generator) Regulations Electricity Market Reform: Amendment to Contracts for Difference (Definition of Eligible Generator) Regulations Consultation on a proposed amendment to enable retrofit Carbon Capture and Storage projects

More information

Climate change policies and the UK business sector: Overview, impacts & suggestions for reform

Climate change policies and the UK business sector: Overview, impacts & suggestions for reform Climate change policies and the UK business sector: Overview, impacts & suggestions for reform Authors: Samuela Bassi, Antoine Dechezleprêtre & Sam Fankhauser Grantham Research Institute on Climate Change

More information

Prosperity Fund Creating Conditions for Global Growth Turkey Programme Strategy (2015-16)

Prosperity Fund Creating Conditions for Global Growth Turkey Programme Strategy (2015-16) Prosperity Fund Creating Conditions for Global Growth Turkey Programme Strategy (2015-16) Contents Introduction & Context Programme Objectives and Indicators General Guidance Notes Programme Structure

More information

Regulatory Briefing. Capital Markets Day. 17 October 2013

Regulatory Briefing. Capital Markets Day. 17 October 2013 Regulatory Briefing Capital Markets Day 17 October 2013 Agenda Andrew Koss Director of Strategy Damien Speight Head Trader Renewables Obligation Contracts for Difference Levy Control Framework Capacity

More information

Security of electricity supply

Security of electricity supply Security of electricity supply Definitions, roles & responsibilities and experiences within the EU Thomas Barth Chairman of Energy Policy & Generation Committee EURELECTRIC Outline Security of Supply a

More information

Disclaimer: All costs contained within this report are indicative and based on latest market information. 16 th March 2015

Disclaimer: All costs contained within this report are indicative and based on latest market information. 16 th March 2015 Disclaimer: All costs contained within this report are indicative and based on latest market information 16 th March 2015 FD SUMMARY The make up of the electricity bill is changing, with non-commodity

More information

The Money Charity is the UK s leading financial capability charity.

The Money Charity is the UK s leading financial capability charity. The Money Charity is the UK s leading financial capability charity. We believe that being on top of your money means you are more in control of your life, your finances and your debts, reducing stress

More information

Principles and key features of required reform

Principles and key features of required reform 3 Principles and key features of required reform Given the realities outlined in Chapters 1 and 2 the Pensions Commission believes that minor changes in policy, tinkering with the present system, will

More information