Budget 2016 - Energy and Environment

Budget 2016Energy and Environment

Climate change only gets a single contextual mention in Budget 2016, but there are nonetheless a number of measures linked to Britain’s climate change and environmental ambitions that businesses need to be aware of. Here, we break them down into energy, environment and waste.

For a more detailed analysis, see www.remsol.co.uk/latest-blogs

Energy

Energy Headlines

• Abolish the Carbon Reduction Commitment (CRC) from the 2018/19 compliance year

• Increase the main rates of the Climate Change Levy (CCL) from 1 April 2019

• Raise the CCL discount for sectors with Climate Change Agreements from 1 April 2019

• Rebalance the main rates of CCL for different fuel types to reflect recent data on the fuel mix used in electricity generation

Environment

Environment Headlines

• The list of designated energy-saving and water-efficient technologies qualifying for Enhanced Capital Allowances (ECAs) will be updated during summer 2016

• The Aggregates Levy rate will remain frozen at £2 per tonne in 2016-17, to support the construction sector

• The government will legislate later in 2016 to reduce statutory plastic packaging recycling targets for 2016 and 2017, to reduce the burden on business. The government will also set new recycling targets for glass and plastic packaging for 2018, 2019 and 2020

Waste

Waste Headlines

• The standard and lower rates of Landfill Tax will increase in line with RPI, rounded to the nearest 5 pence, from 1 April 2017 and again from 1 April 2018

• Additional funding will be made available over the next five years for HMRC to increase compliance activity across the waste supply chain, enabling the government to better tackle waste crime

The information in this document is intended to furnish readers with general information on matters that they may find to be of interest. While every effort has been made to offer current and accurate information, errors can occur. Furthermore, this document may contain references to certain laws and regulations. Laws and regulations will change over time and should be interpreted only in light of particular circumstances. REMSOL LIMITED DISCLAIMS ALL LIABILITY AND RESPONSIBILITY FOR ANY ERRORS OR OMISSIONS IN THE CONTENT CONTAINED IN THIS DOCUMENT.

The information presented in this document should not be construed as legal or professional advice or service. You should consult with a Remsol or other professional advisor familiar with your particular factual situation for advice concerning specific matters before making any decision. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, REMSOL LIMITED DISCLAIMS ALL LIABILITY TO YOU AND EVERYONE ELSE IN RESPECT OF THE CONTENT IN THIS DOCUMENT, WHETHER UNDER ANY THEORY OF TORT, CONTRACT, WARRANTY, STRICT LIABILITY OR NEGLIGENCE OR OTHERWISE, AND WHETHER IN RESPECT OF DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL, PUNITIVE OR SIMILAR DAMAGES, EVEN IF REMSOL LIMITED WAS ADVISED, KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.