Commission Decision of 4 May 2005 establishing a questionnaire for reporting on the application of Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC (notified under document number C(2005) 1359) (Text with EEA relevance) (2005/381/EC)

[F1 12. The legal nature of emission allowances and fiscal treatment U.K.

Questions 12.1, 12.2, 12.3 and 12.4 are to be answered in the report due by 30 June 2014 and in subsequent reports if changes have occurred during the reporting period.

12.1. What is the legal nature of an emission allowance in your Member State? U.K.

12.2. What is the accounting treatment of emission allowances in the annual financial report of the companies following the Member State’s accounting norm? U.K.

12.3. Is VAT due on the issuance of emission allowances? Yes/No U.K.

Is VAT due on transaction of emission allowances on the secondary market? Yes/No

Does your Member State apply the reverse-charge mechanism on domestic transactions involving emission allowances? Yes/No

12.4. Are emission allowances taxed? Yes/No U.K.

If yes, please indicate in the table below the type of tax and tax rates that apply. Add further rows if necessary.

Type of tax	Tax rate applied
	]

Textual Amendments

F1 Substituted by Commission Implementing Decision of 21 March 2014 amending Decision 2005/381/EC as regards the questionnaire for reporting on the application of Directive 2003/87/EC of the European Parliament and of the Council (notified under document C(2014) 1726) (Text with EEA relevance) (2014/166/EU).