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HMRC Update: VAT on Voluntary Carbon Credits Sales Effective September 1, 2024

  • From 1 September 2024, the sale of voluntary carbon credits in the UK will be standard rated for VAT purposes
  • Voluntary carbon credits are certificates that verify the reduction of carbon dioxide from the atmosphere
  • HMRC has changed its view on VCCs due to the emergence of a secondary market
  • Most VCCs will be subject to VAT at the standard rate, but some activities will remain outside the scope of VAT

Source: charteredaccountants.ie

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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