Unlike VAT, HMRC confirmed that PPT is only paid once the product is finished or imported. If you choose to increase the price to cover the cost of PPT, VAT will still be payable on the whole price charged for the goods you sell according to VAT rules.
Source: globalvatcompliance.com
Latest Posts in "United Kingdom"
- UK Implements EPR Scheme: Producers Pay Fees for Packaging Waste Management Starting 2025
- Rachel Reeves Considers VAT Adjustments Amid Budget Challenges Despite Labour’s Pledge
- Cayman Implements New Taxes on Imported Vehicles
- Tribunal Rules Nitrous Oxide Not Zero-Rated Food in Telamara VAT Case
- HMRC Updates VAT Notice 700/18: New Guidelines for Bad Debt Relief Claims