Is this the end for CRC? Give your views now
1 October 2015
Since the government abandoned its plans to return the Carbon Reduction Commitment (CRC) revenue to participants, CRC has been a tax in all but name and for many the complexities of the scheme are unjustified. If you find compliance with the current scheme unduly onerous now is your opportunity to have your say.
On 28 September 2015, following on from its commitment to reduce red tape, the Government launched a consultation on business energy efficiency taxation.
A key proposal is the abolition of the CRC Energy Efficiency Scheme and the current Climate Change Levy and their replacement by a new tax based on energy consumption.
The government is keen to retain the reporting element of CRC and there is a proposal for a new single reporting scheme, to be based around ESOS.
Whilst there is no indication of a cost saving for business in respect of the cost of allowances verses a tax, many businesses will welcome the simplification in terms of administration which will save time and money. If you wish to respond the consultation is open until 9th November 2015.