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.
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▤ Verbatim text from source document
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.