The Government has published a written ministerial statement announcing that legislation will be introduced to allow a VAT zero rate to apply to trades in UK emissions trading scheme (ETS) allowances within the VAT Terminal Markets Order (TMO). The UK ETS replaced the UK’s participation in the EU ETS on 1 January 2021.
Source
- Theyworkforyou
- UK Parliament Hansard – Emissions Trading Scheme: VAT
- HMRC Policy paper: UK Emissions Trading Scheme markets
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