Policy paper

Amendment to VAT reverse charge for emissions allowances

This tax information and impact note is about preventing a loophole in an existing domestic reverse charge for emissions allowances following the introduction of a UK emissions trading scheme on 1 January 2021.

• From: HM Revenue & Customs
• Published: 24 March 2021

Documents

Amendment to VAT reverse charge for emissions allowances

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Details

This is an anti-fraud measure which prevents a loophole removing the opportunity for fraudsters to charge VAT and then go missing before paying it over to the Exchequer.

Published 24 March 2021