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OPERATIONAL GUIDANCE
THE LANDFILL TAX CREDIT SCHEME
GLOSSARY
OG 55 G1 – 10 January 2005
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To explain words and terms used in OG 55. |
Index to further related information
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Approved Objects are the purposes for which qualifying contributions can be spent under the Landfill Tax Regulations 1996 (as amended). |
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Distributing Environmental Body means the environmental body that receives qualifying contributions on behalf of non-ENTRUST enrolled environmental bodies. |
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ENTRUST is the Environmental Trust Scheme Regulatory Body Limited and is the regulator of environmental bodies under the Landfill Tax Regulations 1996. Appointed by HM Customs and Excise it audits and monitors environmental bodies. |
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Environmental Body means an organisation enrolled with the Scheme's regulator (ENTRUST) and able to receive qualifying contributions and carry out projects under the Landfill Tax Credit Scheme. |
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Landfill operators are the persons liable to pay landfill tax. |
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Landfill tax is a levy paid by landfill operators on waste being sent to landfill which is intended to make the cost of disposing waste to landfill better reflect its environmental impact. |
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Landfill Tax Credit Scheme was created as a result of the Landfill Tax Regulations 1996 (as amended) and allows landfill operators to obtain relief from up to 6.8% of their landfill tax liability by making qualifying contributions to environmental bodies enrolled with ENTRUST. |
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Landfill Tax Credits represent the tax relief available to landfill operators under the Landfill Tax Credit Scheme. |
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Model Objects are those objects which have been accepted as charitable by the Charity Commission and accepted by Entrust as falling within the Approved Objects. |
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Qualifying Contributions are the sums paid by landfill operators to environmental bodies for application in furtherance of the approved objects which generate landfill tax credits for the landfill operators. |
Index to further related information
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