This this tax information and impact note is about legislation to amend the Climate Change Levy rates from 1 April 2024 which were announced at Autumn Statement 2022.
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Spring Finance Bill 2023 will legislate for the rate changes announced previously at Autumn Statement 2022. These changes will increase the main rate of Climate Change Levy (CCL) for gas to meet the frozen electricity rate, with the main rate for solid fuels being increased proportionally to gas, both with effect from 1 April 2024. The main rates of CCL on LPG and electricity will continue to be frozen from 2023-24 into 2024-25.
Spring Finance Bill 2023 will also legislate for the previously announced changes to the reduced rates of CCL on gas and solid fuels for qualifying businesses through the Climate Change Agreements (CCA) scheme from 1 April 2024. The reduced rates on electricity and LPG will be frozen from 2023-24 into 2024-25.
