The Government is introducing a new tax on plastic packaging from 1st April 2022.
The tax applies to manufacturers and importers of plastic packaging components that contain less than 30% recycled plastic.
The tax will affect a very wide range of businesses due to its broad scope.
This will apply to clients that import / manufacture more than 10 tonnes of plastic packaging within a 12 month period, or will do so in the next 30 days.
The rate of tax will be £200 per metric tonne of plastic packaging.
There will be some exemptions, businesses that manufacture / import less than 10 tonnes of packaging within a year, plastic packaging exported from the UK, and packaging used for licensed human medicines.
HMRC have published guidance to help business work out whether they need to register for the tax here.
For further information, please get in touch with our Tax Manager, Shilpa on 0116 254 9262 or via email ssd@newbyc.co.uk