Domestic reverse charge ― trading in renewable energy certificates

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides an overview of the scope of the domestic reverse charge applied in respect of trading in renewable energy certificates. This note should be read in conjunction with the Domestic reverse charge ― overview and Domestic reverse charge ― accounting requirements guidance notes.

Background

The reverse charge mechanism for businesses trading in renewable energy certificates was introduced with effect from 14 June 2019 and applies to the buying and selling of renewable energy certificates in the UK from that date.

What are renewable energy certificates?

These are certificates that are issued to electricity and gas generators when they produce renewable energy. These certificates can be traded as a commodity which creates an opportunity for fraud to occur. These certificates are commonly called Guarantees of Origin (GoOs) and can also be called (this list is not exhaustive):

•
Renewable Energy Certificates (RECs)
•
Renewable Obligation Certificates (ROCs)
•
Renewable Energy Guarantee of Origin (REGO)
•
International Renewable Energy Certificates (I-RECs)
•
Renewable Gas Guarantees of Origin (RGGOs)

Supplies

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Personal Tax

Income tax losses ― overview

Income tax losses ― overviewIncome tax losses can arise due to a number of reasons, but not all losses can be relieved against total income and some losses can only be set against certain types of component income. The table below is a summary of the main reliefs for income tax losses.Summary of

04 Mar 2021 12:19 | Produced by Tolley Read more

Value Added Tax

UK VAT invoice requirements

UK VAT invoice requirementsThis guidance note provides details of the information that must be shown on a valid tax invoice. Businesses supplying goods and services that are liable to the standard or reduced rate of VAT are required to issue a tax invoice to another VAT registered person.If the

14 Jul 2020 13:46 | Produced by Tolley Read more

Corporation Tax

Research and development (R&D) relief ― overview

Research and development (R&D) relief ― overviewThis guidance note provides an overview of the research and development (R&D) tax reliefs for companies.See the Research and development tax relief summary diagram which summarises the R&D tax relief.See also Simon’s Taxes D1.401.For a factsheet which

14 Jul 2020 12:22 | Produced by Tolley in association with Will Sweeney Read more

��Ӱ��