- HMRC announced that from 1 September 2024, VAT will need to be accounted for on certain trades of voluntary carbon credits at the standard rate
- Voluntary carbon credits were previously treated as outside the scope of UK VAT
- Businesses involved in this sector should review their terms of business to ensure they are not adversely affected by the imposition of VAT
- HMRC has published updated guidance at VATSC06584
Source: simmons-simmons.com
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.
