The Worldwide Fund for Nature (WWF) has expressed its support for the Government's proposed climate change levy in a recently published report. According to a Treasury press release, the WWF's study confirms that the levy will benefit the UK economy, as well as the environment, and that most businesses will be net beneficiaries of the tax (taking into account the accompanying reduction in national insurance contributions).
Discussions with energy-intensive sectors are continuing with the aim of agreeing reduced rates for sectors that meet agreed targets for improving energy efficiency.
For further information, speak to your usual KPMG tax contact.
This article is intended to provide a general guide to the subject matter and should not be regarded as a basis for ascertaining the liability to tax or determining investment strategy in specific circumstances. In such instances separate advice should be taken.
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