UK announces new Electricity Generator Levy

18 November 2022|Tax Alerts, Legislation & Policy, National/Federal Taxation, Power & Utilities|United Kingdom

The United Kingdom (UK) has put forward proposals for a new temporary Electricity Generator Levy which will apply from 1 January 2023. This levy is separate to the Energy Profits Levy which applies for the oil and gas sector.
The Government has not yet published draft legislation but it has issued a technical note on the proposals, summarized in this Alert.

Executive summary

As part of the Autumn Statement delivered by the UK’s Chancellor, Jeremy Hunt, on 17 November 2022, the UK has put forward pr…

Continue reading with a Pro Subscription

Unlock full Orbitax Tax News content, including a historical database of tax news, alerts, and analysis from our network of tax experts, all tailored to your company footprint. Now includes Orbitax XatBot AI Tax Assistant.

Free trial available. Cancel anytime. Free Orbitax account required.