Module 12 Flashcards
What are the UK environmental taxes?
Aggregates levy Landfill tax Land remediation relief Climate change levy Vehicle and fuel duty
What is aggregates levy?
Tax on exploitation of sand gravel and rock that is dug from ground or sea in UK
SAND
GRAVEL
ROCK
£2 per tonne
What is landfill tax?
Taxes on disposal of waste to landfill sites
Paid by landfill operators
Recharge to local businesses and authorities when dispose of waste
Scotland and Wales devolved
Landfill tax rates
Lower for inactive waste such as rocks and soil
Standard
Landfill communities fund
Encourages site operators to contribute money to carry out improvement projects
Tax credit from HMRC
5.3% claim credit
What is land remediation relief?
Cleaning up contaminated or derelict land can get enhanced relief
150% of qualifying costs
Conditions - in UK, was contaminated when acquired
Costs already in, additional 50% taken
What is climate change levy?
Reduce energy consumption
Main- electricity, gas, petrol, coal, come, charged by suppliers
Carbon price support rates - generators of electricity
CCA: 90% electricity reduction, 65% LPG coal etc
What are vehicle and fuel duties?
Vehicle excise duty (road tax) Fuel duty Low emission zone Congestion charge Toll charges
Biggest source of env taxes in UK
Road tax? VED
Based on emissions
Fuel duty
Paid by consumers added to price of fuel
Congestion charge
Discourage use of roads
Central London and streets of Durham
Low emissions zone
Charges apply to vehicles that don’t meet standards
Tradeable permits
Principle covers greenhouse gases
EU greenhouse evade emission trading scheme - collectively agree to reduce
Covers Energy intensive installations across EU
Requires mandatory participation
Tradeable permits three conditions for success
Different costs
Trade if potential
Move emissions without serious implications
Spread costs- under permit so sell to someone else so don’t get penalty
