UK Publishes Draft Legislation for Electricity Generator Levy

UK HMRC has published draft legislation for the introduction of a new tax on exceptional electricity generation receipts of qualifying generating undertakings from 1 January 2023 to 31 March 2028, the Electricity Generator Levy. The policy paper published with the legislation describes the levy as follows:

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Electricity Generator Levy on exceptional electricity generation receipts

Who is likely to be affected

Companies and groups of companies that undertake electricity generation in …