HM Revenue & Customs (HMRC) have now confirmed the levy rate which will be applied to all qualifying contributions received by Environmental Bodies (EBs) from 1 April 2014.
The rate set by HMRC is 2.17%.
When EBs are reporting contributions received on or after 1 April 2014 through ENTRUST online, they should select 2014/2015 and this will automatically apply the correct levy percentage to the contribution.
While this is an increase on the previous levy it includes a total reduction in our operational resource requirement of £100k (6.7%) compared to our agreed 2013/2014 budget. When taking into account funding provided for preparing for the closure of the Landfill Communities Fund (LCF) in Scotland and the adjustment to provide for the shortfall in our levy from previous years, this will increase our total agreed funding by £14k (1%) on the previous year.