Summer Budget 2015: removal of Climate Change Levy

Chancellor George Osborne has announced the removal of the Climate Change Levy (CCL) exemption for renewable electricity in the Summer Budget, saying the change will correct an imbalance in the tax system by preventing taxpayers’ money benefitting renewable electricity generated overseas

With effect from midnight on 31 July 2015, electricity generated from renewable sources will no longer be eligible for the CCL exemption for renewably sourced electricity (RSE) when supplied under a renewable source contract.

There will be a transitional period for suppliers, from 1 August 2015, to claim the CCL exemption on any renewable electricity that was generated before that date. The government is to discuss the details of this transitional period with stakeholders over the summer and autumn, to determine an appropriate length for it.

Your free features:

Breaking news and expert analysis
Customisable daily newsletters
Six free CPD learning modules each year
Personalised CPD tracker
Top 75 Firms league tables
Regulatory changes
Hardman’s Tax Data

HR | Employment tribunal claim limit doubles to six months

Tax | Chancellor cuts VAT to 5% for kids’ meals, 10p rise in tax free mileage rate

Business | King’s Speech outlines closer trade ties with EU, less red tape

Tax | Business tax changes from 1 April 2026

Tax | Ending the scourge of online VAT abuse by offshore retailers

Navigate

Tax Services

Your free features:

Sign up to Business & Accountancy Daily