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NEUTRAL NEWS ISSUES
20/06/07
Revenue & Customs Brief 43/07 on biofuels simplification
HMRC now confirm
that the proposed measures will be introduced on 30 June 2007,
as follows:
-
A production
threshold of 2,500 litres per annum below which producers
will not need to enter premises, submit returns or pay duty,
and
-
A reduction in
the frequency of returns for all but the largest producers
(defined as those producing over 450,000 litres per annum)
from monthly to quarterly.
All registered
producers are being sent a return as usual for the month of
June. Those HMRC think likely to be below the production
threshold over the next 12 months are receiving a letter with
this return. The letter asks them to declare whether
they expect to produce more or less than 2,500 litres in the
coming year. They should complete the declaration at the
foot of the letter and send it back along with their completed
return by the due date.
Those who
declare that they expect to produce less will be deregistered
and will not receive any further returns. HMRC will
refer to producers operating below the threshold as "exempt"
producers. They must, however, contact HMRC to enter
their premises if they subsequently exceed 2,500 litres in a
12 month period, or if, at any time, they expect to exceed
this amount within the next 12 months. Exempt producers
are also required to keep simple monthly production records
(date of production and quantity produced, in litres) on an
ongoing basis, and to retain these for six years.
Please
click here to view the full consultation.
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