Climate Change Working Group Update
Representatives of the Climate Change Working Group attended a meeting with HMRC’s new lead on Carbon Net Zero in relation to taxation policy.
Representatives of the CIOT’s Climate Change Working Group, set up during 2020, held an introductory meeting with the recently established Carbon Net Zero team at HMRC. It was an opportunity to find out more about each team’s background and remit. It was agreed that it would be helpful to have regular, quarterly meetings going forward.
The Carbon Net Zero team at HMRC is looking at carbon net zero in terms of tax policies, and how tax can be used to help the UK meet the 2030 and 2050 targets. The aim is for the UK to reduce greenhouse gas emissions by at least 68% compared to 1990 levels, by 2030. This is to help ensure the UK is on track to achieve net zero by 2050.